Irn-Bru maker AG Barr has today forecast that its half-year revenue will be higher than prior-year levels, supported by strong demand for its cocktail mixes and soft drinks.
In the past year, the company has acquired businesses to expand its soft drinks portfolio to keep up with growing demand and competition.
The recently agreed £3.3 billion merger between Danish brewer Carlsberg and British soft drinks maker Britvic had caused shares of peers AG Barr and Fevertree to rally. The merger was a move that could forge a UK beverage "powerhouse", Carlsberg said.
AG Barr now expects its revenue for the 26-week period ended July 27 to be about £221m, compared with £210.4m posted a year earlier.
The beverage maker reiterated its annual forecast after the second half of the year was trading in line with its expectations.
Analysts, on average, in a company-provided poll had forecast profit for the current financial year to be about £56.87m, while revenue is expected to be about £421.19m.
"The strategic margin rebuild programmes are on plan, guidance on revenue and margin remains unchanged, and we are on track to meet FY (full-year) expectations," recently appointed CEO Euan Sutherland said in a statement.
