Irn-Bru maker AG Barr lifts full-year profit expectations
By Michele Maatouk
Date: Tuesday 20 Jul 2021
(Sharecast News) - Irn-Bru maker AG Barr lifted its full-year profit expectations following better-than-expected trading since its results in March.
At the full-year results earlier in the year, the drinks company said it was in strong financial health, with its brands and business poised for growth on a like-for-like basis.
"Trading since then has been better than anticipated, driven by a combination of factors, some Covid related, including customer restocking, in the hospitality sector in particular, and some associated with underlying brand momentum, such as the positive performance of recent innovation launches," it said on Tuesday.
As a result, it now expects profit for the current 53-week financial year to the end of January 2022 to be "slightly" ahead of the 52-week year prior to Covid, when it delivered pre-tax profit of £37.4m.
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