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

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 or visit 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.

END

TSTPPUWAGUPGGQA

(END) Dow Jones Newswires

January 26, 2021 02:00 ET (07:00 GMT)

Barr (a.g.) (LSE:BAG)
Historical Stock Chart
From Mar 2024 to Apr 2024 Click Here for more Barr (a.g.) Charts.
Barr (a.g.) (LSE:BAG)
Historical Stock Chart
From Apr 2023 to Apr 2024 Click Here for more Barr (a.g.) Charts.