AG Barr sees 21% revenue increase
Drinks manufacturer AG Barr, which owns brands including Irn-Bru, Rubicon and Tizer, has reported a 21.4% increase in revenues compared to last year in its quarterly results.
The company says that it has seen “continued strong underlying performance in the core business”, which has been boosted by “further growth in the Rubicon brand” which it acquired in January this year.
For the quarter ending October 31, the company says like-for-like sales increased by 10.8% and total revenue for the nine months to October 31 increased by 25% with like for like sales up by 11.2%.
In March last year AG Barr entered into a conditional agreement to purchase Rubicon, the UK-based manufacturer and distributor of juice drinks, negotiating an initial cash payment of £59.8m.
In June, the drinks company has also signalled its intention to bolster the marketing activity of its flagship soft drink brand Irn-Bru in England.
The company us currently undergoing restructuring across its manufacturing and supply chain and are currently consulting with employees affected by the proposal.
In a statement the company says: “Current trading remains in line with our expectations. Economic conditions continue to be challenging and the soft drinks sector is highly competitive however, we remain confident of delivering our plans for the full year.”
