Barr(A.G.) PLC Trading Update (7905Y)
December 04 2014 - 2:01AM
UK Regulatory
TIDMBAG
RNS Number : 7905Y
Barr(A.G.) PLC
04 December 2014
4 DECEMBER 2014
A.G. BARR p.l.c.
Trading Update
A.G. BARR p.l.c., the soft drinks group, today announces its
trading update covering the period from 28 July 2014 to date.
Revenue for the 18 weeks to 30 November 2014 decreased
marginally by 0.6%, on a like for like basis (adjusted for the
effect of the loss of Orangina sales revenue).
Year to date revenue, excluding Orangina, has grown by 3.5%
versus a total soft drinks market which increased by 0.4%, as
reported by Nielsen.
As we anticipated, our revenue performance in the third quarter
slowed somewhat from the very strong growth in the first half. This
was driven by lower promotional activity, wholesaler destocking and
a very competitive price driven trading environment in a soft
drinks market which was in revenue decline. We continue to control
our costs tightly across the business and, as a result, our margins
continue to be in line with our expectations.
In the period, we announced our new contractual arrangements for
the Snapple brand which we will commence management of in January
2015.
Our balance sheet remains strong and there have been no
significant changes in the financial position of the Company since
the publication of the Interim Accounts for the six months ended 27
July 2014.
We are pleased to report good progress relating to the
previously announced capacity and efficiency investments at our
Milton Keynes site, with the carton packaging lines and
multipacking capability making good progress. We anticipate closure
of the Tredegar site early in our 2015 financial year.
Outlook
The soft drinks market remains dynamic and competitive as we
approach the key festive trading period. We have a strong trading
plan to drive growth despite the tough year on year comparatives
and competitive environment in which we operate. Assuming current
market conditions continue, we remain confident of delivering our
full year performance expectations and look forward to further
growth in the next financial year.
For further information, please contact:
A.G. BARR Tel: 01236 852400
Roger White, Chief Executive
Instinctif Tel: 020 7457 2020
Justine Warren
Matthew Smallwood
This information is provided by RNS
The company news service from the London Stock Exchange
END
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