AGM & IMS

RNS Number : 7064D

Barr(A.G.) PLC

21 May 2012

 



A.G. BARR p.l.c.

Annual General Meeting and Interim Management Statement

A.G. BARR p.l.c., the soft drinks group, will today hold its Annual General Meeting in Glasgow and announces its Interim Management Statement covering trading for the period 29 January to date.

Total revenue for the 14 weeks to 5 May 2012 increased by 4.3% compared to the same period last year.

This is a robust performance given the combined effects of a particularly wet April, which has impacted high street footfall and the challenging soft drinks market in general.

In the period we have continued our strategy of investing in long term brand building, whilst delivering value for consumers.  We have delivered significant marketing investment across all of our core brands.  IRN-BRU and IRN-BRU Sugar Free have seen both television and digital advertising campaigns and in early May we commenced the first national television advertising campaign for the Rubicon brand.

The outlook for material costs has not altered in recent months and we continue to expect mid single digit material cost inflation for the full year.  Management actions to mitigate the impact on margins are well underway with pricing changes completed and additional efficiency plans in place to support our longer term cost control actions.

We are making good progress with our plans related to the previously announced investment in operating capacity at Milton Keynes.

The balance sheet remains strong and there have been no significant changes in the financial position of the Company since publication of the Report and Accounts for the year ending 28 January 2012.

Outlook

We have started the new financial year with all of our core brands performing well in difficult market conditions.  During the course of the period the unseasonal weather for the time of year has impacted the market and a period of more normal conditions will now be required to bring the market back into growth.  Despite the challenges of current market conditions and continued low consumer confidence, the business is performing in line with our expectations.

21 May 2012

For further information, please contact:

A.G. BARR	Tel: [phone]
Roger White, Chief Executive
Alex Short, Finance Director
College Hill	Tel: [phone]
Justine Warren
Matthew Smallwood

 

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