AG Barr first half total revenue up
AG Barr, which produces and markets brands such as Irn-Bru, Rubicon and Strathmore water, has reported 4.9% increase in total revenue to £130m for the six months ended 28 July 2012, compared to £124m during the same period in the prior year.
Within this overall performance, carbonates revenue grew by 5.5% and stills by 1.8%.
Profit before tax was down by 8% to £14.9m from £16.2m in the prior year period.
Despite the immediate challenges of the market Irn-Bru, Rubicon and Barr are well positioned to continue to grow into the future, claims the company.
The Rubicon brand volume grew by over 6% in a fruit drinks market which was 5% behind the similar period in the prior year.
Chief executive Roger White, commenting on the results, said: "We are particularly pleased with our financial performance given the ongoing challenging trading environment. We have continued to outperform, delivering further consistent growth in volume and value ahead of a market which has seen volume declines in the period."
"In addition we have maintained investment in the long term equity of all of our core brands. We are excited by the growth possibilities associated with the development of our new site at Milton Keynes which is now under construction," he added.
AG Barr said that discussions are ongoing regarding the potential all share merger with Britvic.