Barr(A.G.) PLC Q4 Trading Update (3066D)
January 28 2015 - 02:00AM
UK Regulatory
TIDMBAG
RNS Number : 3066D
Barr(A.G.) PLC
28 January 2015
IMMEDIATE RELEASE 28 January 2015
A.G. BARR p.l.c.
("A.G. BARR" or "the Group")
Fourth quarter trading update
A.G. BARR p.l.c., the soft drinks group, today announces that
trading performance in the final quarter of the financial year
ended 25 January 2015 is expected to have been well ahead of the
total soft drinks market, with A.G. BARR achieving growth of over
5% in the period.
The strong performance in the final quarter saw a renewed sales
momentum following a slower third quarter. Full year revenue is
expected to be around GBP259 million, a year on year growth of
c.2%. Stripping out the impact of lost Orangina revenue, year on
year sales growth would be c.3% on a like for like basis.
All core brands have performed well across the year in what has
been a period of low market growth in soft drinks. Despite the
underlying performance the market has at times been volatile, with
periods of intense competitive trading activity, as brand owners
and retailers across varied channels fought for market share.
The highlights of the Commonwealth Games sponsorship and some
strong brand innovation have helped to support the performance of
A.G. BARR's core brands over the full year. To underpin margins,
action has been taken to proactively manage costs across the
business, thus ensuring that the trading decision in the second
half, not to participate in some of the more aggressive price
promotion, has not impacted overall profit performance.
Excellent progress has been made in the execution of the
operational improvement plans and the commissioning of the new
carton and multi packing facilities at Milton Keynes is well
underway. This will enable the Tredegar site to close as planned in
early February.
Over the period, free cashflow generation and the balance sheet
have remained strong, with the Group now expected to be in a
positive cash position at the year end reflecting some phasing
changes in our capital expenditure plans.
Outlook
A.G. BARR has delivered a robust performance and remains well on
course to meet its expectations for the financial year ended 25
January 2015.
We are cautiously optimistic regarding the new financial year
and at this point expect to see further growth and development
across the Company, despite the challenging operating environment
and market conditions.
A.G. BARR intends to announce its full year financial results on
24 March 2015.
A.G. BARR Tel: 01236 852400
Roger White, Chief Executive
Stuart Lorimer, Finance Director
Instinctif Tel: 020 7457 2020
Partners Justine Warren
Matthew Smallwood
This information is provided by RNS
The company news service from the London Stock Exchange
END
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