Interim Management Statement

RNS Number : 4800T

Barr(A.G.) PLC

08 June 2009

 



Immediate Release

8 June 2009

A.G.BARR p.l.c.

Interim Management Statement

A.G.BARR p.l.c., the soft drinks group, today announces its Interim Management Statement covering trading for the period 1 February to 29 May, 2009.

Total revenue for the period increased by 22.5% compared to the same period last year.  Like for like sales, taking out the effect of the Rubicon acquisition, increased by 7.9%.

This performance has been delivered by strong underlying revenue growth from the core Barr business in combination with an increasingly positive performance from the Rubicon brand in the period despite the difficult economic times and strong competition in the market place. We have maintained our focus on core brand investment and are now beginning to see benefits from our previous investments in sales execution.

Overall operating margins continue to be in line with our expectations.

The accelerated Rubicon integration process, which commenced in January 2009, has made good progress helping to offset the impact of weak Sterling and the associated increases in input costs. Rubicon remains on track to meet targets set at the time of the acquisition.

Our balance sheet remains strong and there have been no significant changes in the financial position of the company since the publication of the Report & Accounts for the year ended 31 January, 2009.

Outlook

Overall trading remains in line with our expectations.  Sales in the latter half of May have benefited from improved weather however they are up against some strong weather driven comparables from last May. Our increased portfolio coverage and our strong operating focus continues to give us confidence that we will deliver our plans despite the current difficult economic environment.

For further information, please contact:

A.G.Barr                                                Tel:  [phone]

Roger White, Chief Executive

Alex Short, Finance Director

Buchanan Communications           Tel:  [phone]

Tim Thompson

Christian Goodbody

 

END

 

 

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