Irn Bru makers A.G. Barr have announced pre-tax profits of £41.5m amid strong sales growth.
The profits are 11% ahead of 2019/20 pre-covid levels - which saw pre-tax profits in the 52 weeks to January 25, 2020 of £37.4m - and 26.5% better than 2021 pre-tax profits of £32.8m.
The Cumbernauld soft drinks manufacturer, which also produces and markets brands including Rubicon, Tizer, Strathmore Water and Bundaberg, announced its final results for the financial year ending in January of 2022.
They report that their core brands are now ahead of pre-covid levels
Following the publication of the end-of-year results, Roger White, A.G/ Barr Chief Executive, commented:“Our business and brands have once again proven their resilience in uncertain and often challenging circumstances.
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“We have accelerated our revenue growth and consequently delivered a strong financial performance. In the year we have recommenced our dividend, alongside paying a one-off special dividend, and our balance sheet has continued to strengthen.
“Our focus on environmental sustainability has accelerated, as we increase our use of recycled materials, reduce our carbon footprint and ready our business for a successful deposit return scheme implementation, due to go live in Scotland in August 2023.
“We enter the new financial year with good momentum and exciting brand and sales plans. Trading in the early weeks of the new financial year has been well ahead of the prior year and in line with our expectations.
“Like most companies we are facing significant inflationary pressures but we are well placed as a Group to deal with these and will continue to seek to manage our exposure proactively through mitigating actions across revenue management, pricing, procurement and cost control.
“The growth potential of our business is underpinned by our growing brands, our highly capable people and our resilient infrastructure. We plan to invest further in all of these important areas and I remain confident in our ability to deliver continued growth in both revenue and profit in the coming year.”
