Interim Management Statement

RNS Number : 8891M

Barr(A.G.) PLC

02 June 2010

 



FOR IMMEDIATE RELEASE                                                                                         2 June 2010

A.G. BARR p.l.c.

Interim Management Statement

A.G. BARR p.l.c., the soft drinks group, today announces its Interim Management Statement covering trading for the period 31 January to 29 May 2010.

Total revenue for the period on a like for like basis increased by 17.9%, compared to the same period last year.  This is a good start to the 2010/11 financial year and reflects the combined effects of strong underlying growth momentum in key brands and the weighting of our commercial activities towards the first half of the financial year.

The growth has been delivered across all our core brands with particularly strong performances by IRN-BRU and Rubicon.  We have continued to invest heavily across the period in building our brands, utilising high profile sport sponsorships which now cover football, cricket and rugby league as well as increased levels of traditional television advertising activity.

Overall operating margins continue to be in line with our expectations.

Our planned manufacturing investments and supply chain changes are well advanced and we are now moving into the implementation phases of both projects.  We expect to deliver these major changes within cost and on time.

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 and Accounts for the year ended 30 January 2010.

Outlook

We have made a good start to the year, undertaking a significant amount of brand development and trade activity in the first quarter ahead of the usually highly competitive world cup trading period.  The strong start combined with our future plans give us confidence that we will meet our expectations despite the continued uncertain economic backdrop.

For further information, please contact:

A.G. Barr                                              Tel:      [phone]

Roger White, Chief Executive

Alex Short, Finance Director

Buchanan Communications                 Tel:      [phone]

Tim Thompson

Nicola Cronk

Christian Goodbody

 

END

 

 

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