REG - Barr(A.G.) PLC - Trading Update

A G BarrAnnouncement

02/08/2022 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20220802:nRSB5226Ua&default-theme=true

RNS Number : 5226U  Barr(A.G.) PLC  02 August 2022

IMMEDIATE RELEASE
 
2 August 2022

A.G. BARR p.l.c.

("A.G. BARR")

 

Strong H1 trading - full year in line with expectations

A.G. BARR p.l.c., which produces and markets some of the UK's leading drinks
brands, including IRN-BRU, Rubicon and Funkin, today announces a trading
update in respect of the 26 weeks ended 31 July 2022.

We are pleased to report that revenue for the first half of the financial year
is expected to be c.£157m.

This represents year on year revenue growth of :

●    c.19% on a like-for-like basis, excluding both the 27th week in
prior year and the revenue contribution from MOMA Foods in the current
reporting period

●    c.16% on a reported revenue basis (27 weeks* to 1 August 2021 :
£135.3m)

This strong revenue performance reflects the continued positive momentum
across all business units - Barr Soft Drinks, Funkin and MOMA.  Our growth
has been driven by ongoing brand investment and the successful execution of
our pricing and promotional activity.  Trading performance further benefited
from the year on year Covid recovery across the market, particularly in the
on-trade and out of home sectors, as well as the exceptional British summer
weather in recent weeks.

Outlook
We anticipate that the UK's current high level of inflation will continue
across the balance of the year, with economic conditions becoming increasingly
challenging for consumers and industry alike.  Across the second half of the
financial year we will continue to invest behind our brands and believe that
our strategy will support continued growth.  At the same time we will take
appropriate mitigating action to limit the full year impact of cost
inflation.

Roger White, Chief Executive, commented:

"Our brands are performing well and our business has continued to demonstrate
both its resilience and flexibility.  While not immune to the current cost
inflationary pressures experienced across the UK, looking forward into the
second half of the financial year, we remain confident of delivering a
full-year profit performance ahead of the prior year and in line with board
expectations."

For more information, please contact :

A.G. BARR  0330 390
3900
Instinctif Partners  020 7457 2010/05

Roger White, Chief
Executive
Justine Warren

Stuart Lorimer, Finance
Director
Matthew Smallwood

Next update : Interim Results - September 2022

* 2021/22 was a 53-week financial year with a 27-week first half.  2022/23
reverts to a 52-week year with a 26-week first half

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  TSTUPURCRUPPGQG