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A.G. Barr expects to resume dividend in 2021; sees revenue down 12-to-15% this year

By BFN News | 08:29 AM | Tuesday 22 September, 2020


Irn-bru maker A.G. Barr said it expected to resume dividend payments next year and forecast annual revenue to be 12%-to-15% below the prior year after reporting a slump in first-half profit owing to the pandemic. Barring no further significant period of lockdown in the UK, the company estimated full year revenue performance for the year ending January 2021 would be in the region of 12-15% below the prior year, with a'modest' reduction in operating profit margin. For the six months ended 25 July 2020, pre-tax profit 62% to £5.1m as revenue slipped 7.6% to £113.2m. The fall in profit included an exceptional charge of £11.5m related to ongoing business re-engineering programme and impairment of Strathmore brand and assets owing to the impact of the pandemic on the hospitality sector. At 8:29am: (LON:BAG) Barr A.G. PLC share price was +26.25p at 398.75p Story provided by StockMarketWire.com

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