Interim Management Statement

RNS Number : 0851T

Barr(A.G.) PLC

10 December 2012

 



10 December 2012

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 from 29 July 2012 to date.

Revenue for the 18 weeks to 1 December 2012 increased by 9.0%, with volume increasing by 6.6% compared to the same period last year.

Year to date revenue as at 1 December has increased by 6.5% growing ahead of the prior year comparative figure of 4.6%.

Our core brands have performed well in what has continued to be a competitive but robust soft drinks market.  The market, as measured by Nielsen, increased in value by 3.3% over the 26 week period ending 24 November 2012 with volume flat.

In the period our margins have performed in line with our expectations.

Our balance sheet remains strong and there have been no significant changes in the financial position of the Company since the publication of the Interim Accounts for the six months ended 28 July 2012.

We have continued to make good progress with the development of our new manufacturing and logistics facility at Magna Park, Milton Keynes.  The site construction is now well underway, with handover of the building from the developer anticipated in February 2013 and fit out expected to commence soon after.

Barr Britvic Potential Merger

On 14 November 2012, the Boards of A.G. BARR p.l.c. and Britvic plc announced the agreed terms of a recommended all-share merger to create the combined entity of Barr Britvic Soft Drinks plc.  The related Prospectus was published on 5 December 2012 along with the A.G. BARR Circular, which contains details of the merger and notice of the A.G. BARR General Meeting to be held on 8 January 2013.  A detailed submission concerning the merger has been sent to the Office of Fair Trading and a response to this submission is expected mid January 2013.

Outlook

As we now enter the important Christmas period we anticipate that the marketplace will remain highly competitive.  However, our sales execution activities are well developed and we remain confident of delivering our plans for the full year.

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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