Interim Management Statement

RNS Number : 5379X

Barr(A.G.) PLC

08 December 2010

 



FOR IMMEDIATE RELEASE

8 DECEMBER, 2010

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 from 1 August, 2010 to date.

Revenue for the nine months to 30 October, 2010 increased by 11.6%.

Revenue for the quarter ended 30 October, 2010 increased by 6.4% compared to the same period last year. This very strong growth has been achieved despite the tough prior year comparatives which saw the business grow by over 20%.

Operating margins remain in line with our expectations.

We continue to make good progress in delivering our operational change plans.  The manufacturing investments at Cumbernauld are well advanced and our supply chain changes are now in place to allow for the planned closure of our Mansfield site early in 2011.

Our balance sheet remains strong and there have been no significant changes in the financial position of the Company since the publication of the Interim Accounts for the six months ended 31 July, 2010.

Outlook

Current trading remains in line with our expectations despite a very competitive environment.  General economic conditions continue to be challenging and raw material pricing, PET and sugar in particular, is both volatile and currently trending upwards. However we expect to continue to mitigate these cost pressures and consequentially we remain confident of delivering our plans for the full year.

For further information, please contact:

A.G.Barr Roger White, Chief Executive Alex Short, Finance Director	Tel: [phone]
Buchanan Communications Tim Thompson Christian Goodbody	Tel: [phone]

 

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