[ad_1]
Copyright of the image
AG Barr
The manufacturer of Irn-Bru, manufacturer AG Barr, rejected last year the tax on sugar and other difficulties to increase sales.
The turnover rose 5.6% to £ 279 million at the Cumbernauld based non-alcoholic beverage company, whose brands include Rubicon, Tizer and Strathmore.
The company saw pre-tax earnings fall slightly to £ 44.5 million for the fiscal year up to January 26, after taking a single pension service fee.
Excluding non-recurring items, profits increased 2.5% to £ 45.2m.
Barr said the results were "all the more satisfying" that the UK government lifted its non-alcoholic beverage tax (SDIL), which was introduced last April.
He also faced shortages of carbon dioxide during the summer heatwave, the Beast from East East disruption and a number of corporate bankruptcies.
The company reorganized its Irn-Bru and other beverage lines to reduce their sugar content before the introduction of the sugar tax for soft drinks.
The Irn-Bru sugar-free variants now account for 40% of the total brand.
Copyright of the image
AG Barr
CEO Roger White said the company was "fit for purpose and resilient"
For Barr, revenues from its carbonates business increased 8.9%, led by Irn-Bru, Barr's flavor range and Rubicon Spring.
However, its Rockstar energy drinks have seen a decline in sales after years of steady growth. Barr attributed this performance to "intense promotional pressure" and the launch of new products by competing brands.
Barr also recorded an overall decrease in stills and water business, with volume down 6% and revenue down 7%.
The company said Rubicon fruit drinks were facing "significant competitive challenges in a declining market segment," while its Strathmore flat-water range was "impacted by competitive prices on the market. "Whole market".
CEO Roger White said, "I am pleased to report that we have achieved another strong financial performance, after adjusting well to the circumstances we anticipated and those that were less expected."
He added that, even though uncertainty prevailed in the UK economy as a whole in the "foreseeable future", the company was "fit for purpose and resilient".
Source link
