THE CITY cheered “superb” sales growth at Irn-Bru maker AG Barr today after the Cumbernauld-based firm again out-stripped the rest of the fizzy drinks market.
Barr’s revenues for the 18 weeks to 1 December rose by 9 per cent, with volume up 6.6 per cent year-on-year.
Data from market analysis firm Nielsen showed the industry as a whole increased its value by 3.3 per cent in the 26 weeks to 24 November, with flat volumes.
Phil Carroll, an analyst at Shore Capital, said: “The comparative performance data for Barr was quite challenging at 5.6 per cent growth for the corresponding period last year and 4.6 per cent growth for the year to date so the recent performance looks particularly robust and ahead of our current full-year sales run-rate forecast of 6.5 per cent.”
Numis Securities analyst Charles Pick hailed the “superb revenue headway” in the trading update, possibly Barr’s last as a standalone company.
The firm, which is run by chief executive Roger White, said it had made a “detailed submission” to the Office of Fair Trading (OFT) over its proposed reverse takeover of sector peer Britvic, with an OFT decision expected in mid-January.
Shareholders will vote on the deal on 8 January.