TIDMBAG

RNS Number : 8001T

Barr(A.G.) PLC

29 November 2021

IMMEDIATE RELEASE 29 November 2021

A.G. BARR p.l.c.

("A.G. BARR")

A.G. BARR produces and markets some of the UK's leading drinks brands, including IRN-BRU, Rubicon and Funkin.

Full year profit now anticipated to be ahead of current market expectations

The positive trading momentum reported at our interim results in September has continued and sales have grown ahead of our expectations, across both our Barr Soft Drinks and Funkin business units. Our performance in both the "on the go" and hospitality sectors remains particularly strong and our recent innovation launches have exceeded our expectations. In what remains a challenging supply chain environment, our production and wider supply chain have maintained their resilience and supported the growth in volume we are experiencing.

As a result of our continued strong volume performance and despite ongoing near term operating cost pressures, we now anticipate both revenue and profit before tax for the full year to be ahead of current market expectations. Assuming no significant changes to current market conditions, we expect revenue to be in the order of GBP264m and profit before tax to be around GBP41m.

The fast moving situation in relation to the COVID-19 pandemic remains a risk however we expect our revenue momentum to continue into 2022 and we plan to provide a further trading update in early February 2022.

For more information, please contact :

 
 A.G. BARR              0330 390 3900 
                        Roger White, Chief Executive 
                        Stuart Lorimer, Finance Director 
 Instinctif Partners    020 7457 2020 
                        Justine Warren 
                        Matthew Smallwood

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