Barr(A.G.) PLC Trading Update (8207M)
January 26 2021 - 2:00AM
UK Regulatory
TIDMBAG
RNS Number : 8207M
Barr(A.G.) PLC
26 January 2021
IMMEDIATE RELEASE 26 January 2021
A.G. BARR p.l.c.
("A.G. BARR")
Trading Update
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 financial year ended
24 January 2021.
Revenue for the year is expected to be c. GBP227m (2019/20 :
GBP255.7m), marginally ahead of the revised guidance issued in July
2020 and reconfirmed in the interim results announced in September
2020.
Operating margin before exceptional items across the full
financial year is expected to be in line with the prior year
leading to a profit before tax and exceptional items performance
ahead of market expectations.
In the first 4 months of the second half trading was at the
upper end of our scenario plans. However, COVID-19 developments
since early December 2020, in particular increased social
restrictions across the UK and the entry into full lockdown in
January 2021, are now having an impact, most notably in the
hospitality and "drink now" categories.
Our business has remained strongly cash generative throughout
the year and we expect to end the year with c.GBP50m net cash at
bank.
Commenting on the results, Roger White, Chief Executive, said
:
"Within a volatile environment our sites have remained safe and
operational and I wish to thank our employees who have worked
tirelessly to support our customers and consumers in these testing
times. I am pleased with the performance we have delivered against
a very difficult backdrop which further demonstrates the underlying
resilience of our people, business and brands.
We expect the months ahead to be challenging for everyone
however I remain confident in our ability to navigate these very
uncertain times."
The full year results are expected to be announced on 30 March
2021.
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
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END
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