FTSE 100 Live: Corporate insolvencies hit 13-year high, Pets at Home and AG Barr raise profits guidance

Pets at Home and Irn-Bru owner AG Barr today became the latest firms to upgrade profits guidance following robust Christmas trading.

The pet products retailer reported like-for-like sales growth of 8.3% in the 12 weeks to 5 January and said trading momentum had continued since then, meaning annual profits are likely to top previous guidance of about £131 million.

AG Barr, whose other drinks brands include Rubicon and San Benedetto, said an estimated 17% rise in sales for the year to Sunday left annual profits ahead of 2022’s level and slightly ahead of current City expectations.