logo
Plus   Neg
Share
Email

A.G.BARR Sees Weak Revenue In H1; Warns On FY19 Profit - Quick Facts

A.G. BARR plc (BAG.L), a producer of drinks brands, Tuesday said it expects first-half revenue to be in the region of 123 million pounds, around 10% lower than last year's 136 million pounds.

The company said its trading in the financial year to date has been below expectations.

Looking ahead, the company now expects profit performance for the full year to decline by up to 20 percent from the prior year.

The company noted that despite its strong second half plan, it is not expected to recover fully from the volume impact in the first 5 months of this year and the current trading it is experiencing.

There is likely to be some exceptional costs in the current financial year related to actions taken to regain momentum.

Roger White, Chief Executive Officer, said, "While the Funkin business goes from strength to strength, it has been a challenging start to the year for Barr Soft Drinks. Weather comparatives and trading, particularly in the impulse on-the-go market, have been even tougher than expected which, along with some brand specific challenges, have led to a short-term impact on our financial performance."

The company will announce its interim financial results for the 26 weeks to July 27 on September 24.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The U.S. Food and Drug Administration has granted accelerated approval to Tazverik for the treatment of adults and pediatric patients aged 16 years and older with metastatic or locally advanced epithelioid sarcoma not eligible for complete resection. Epithelioid sarcoma is a rare sub-type of soft... STIHL recalls about 16,400 STIHL RE 90 pressure washers due to injury hazard. According to the company, the recalled pressure washer nozzle can disconnect from the spray wand when under pressure during use, posing an injury hazard. STIHL said it received seven reports of the nozzle detaching from... CVS Health Corp. launched 13 new HealthHUB locations in CVS Pharmacy stores across Philadelphia and South New Jersey. The healthcare company said it developed the HealthHUB store format to help people manage chronic conditions more conveniently and affordably. The store also features health and wellness products, clinical services and expertise.
Follow RTT
>