Barr(A.G.) PLC
11 June 2007
FOR IMMEDIATE RELEASE 11 June 2007
A.G.BARR p.l.c.
Interim Management Statement
A.G.BARR p.l.c. is today publishing its first Interim Management Statement as
required by the UK Listing Authority's Disclosure and Transparency rules,
relating to the period from 28 January to 28 April, 2007.
Overall revenue for the first 13 weeks of the financial year increased by 21%
compared with the same period last year. Like for like sales, stripping out the
effect of the Strathmore business (purchased on 1 June, 2006) were 11% ahead of
last year.
This strong sales performance reflects some promotional phasing changes which
favour the current year as well as a stronger underlying soft drinks market
which due to seasonally above average weather conditions in the period grew by
8% in value terms.
Year on year revenue comparisons will now come up against last year's
exceptional early summer weather.
Operating margins are in line with expectations with continued pressure from
rising material prices being offset by product price increases, implemented
during the period.
The installation of our new canning line at Cumbernauld has made good progress
and the commissioning is well on plan. This will allow for the closure of our
Atherton site at the end of June.
Our balance sheet remains strong and there have been no significant changes in
the financial position of the Company since the publication of the Report &
Accounts in respect of the year ended 27 January, 2007.
Outlook
Our trading outlook remains in line with expectations. The business remains
focused on developing our sales revenue at the same time as delivering the
benefits associated with our major asset redevelopment programme.
For further information, please contact:
A.G.Barr Tel: 01236 852400
Roger White, Chief Executive
Iain F Greenock, Finance Director
Buchanan Communications Tel: 020 7466 5000
Tim Thompson / Nicola Cronk / Susanna Gale
This information is provided by RNS
The company news service from the London Stock Exchange
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