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A.G. BARR H1 Pretax Profit Declines; Revenue Up 5.5% - Quick Facts

A.G. BARR plc (BAG.L) reported statutory profit before tax of 18.2 million pounds for the six months ended 28 July 2018, compared to 19.4 million pounds in the prior year. Earnings per share was 12.74 pence compared to 13.45 pence. Profit before tax and exceptional items increased 4.0% to 18.2 million pounds from 17.5 million pounds. Earnings per share before exceptional items increased by 8.6% to 12.74 pence from 11.73 pence.

First-half revenue increased to 136.9 million pounds from 129.8 million pounds, previous year. The Group said its first-half revenue grew by 5.5%, underpinned by a strong volume growth performance of 7.2%, reflecting the resilience of its core brands and the success in growing market share during the time of change.

Roger White, Chief Executive, said: "We have delivered a solid financial performance in the first half of the financial year, navigating through the Soft Drinks Industry Levy implementation, reformulation, extremes of weather and CO2 shortages in addition to a dynamic consumer, customer and macro-economic environment. We plan to invest further across the second half of the financial year which we anticipate will have a moderate impact on margins. We remain on target to meet our profit expectations for the full year."

The Board has declared an interim dividend of 3.90 pence per share, payable on 26 October 2018 to shareholders on the register on 5 October 2018. This represents an increase on the prior year of 5% and reflects the Board's confidence in the current financial position and the future prospects of the Group.

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