AG Barr expects rise in revenue as sales fizz

Irn-Bru maker AG Barr has predicted a rise in full-year revenue this morning, despite echoing the fears of many in its industry over the current political and economic uncertainty.

The firm said that revenue is expected to be roughly £277m for the year to 26 January, marking a five per cent rise on the previous year, as consumer appetite for fizzy drinks showed little sign of a slowdown.

However, the bump in revenue came alongside a message of concern over future regulations as well as the current business uncertainty in the run up to Britain’s imminent departure of the EU.

“Looking ahead, the current political and economic uncertainty in the UK looks set to continue. For the soft drinks industry, further regulatory intervention is on the horizon and consumer dynamics continue to evolve,” the company said.

Last year the group had to revamp its range of drinks to cut sugar content ahead of the new UK soft drinks sugar tax that came into effect in April.

However, in September the Cumbernauld-based firm struck an upbeat tone after reporting a rise in sales and profits, as it shrugged off a combination of challenges from the new tax and CO2 shortages.

Today the firm also said that the £30m share repurchase programme had continued and was expected to be completed during the course of 2019.