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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.

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