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Irn-bru maker A.G. BARR said it expected to report annual profit ahead of guidance following better-than-expected revenue growth.
Operating margin before exceptiona items for the financial year was expected to be around 15.6%, up from 14.8%, delivering pre-tax profit profit before tax and exceptional items marginally 'ahead of our November 2021 guidance,' the company said.
Revenue for the year was expected to be up 17.5% to about £267 million year-on-year, which was 'marginally ahead' of the revised guidance issued in November 2021 and exceeded the pre-pandemic revenue performance of 2019/20's £255.7 million, it added.
'While Government restrictions have impacted consumer behaviour across the year, both our Barr soft drinks and funkin business units have traded well, particularly during the periods when restrictions were eased.'
The full year results were expected to be announced on 29 March 2022.