AG Barr outperforms market
Irn-Bru maker AG Barr outperformed the overall market with a 5.6 per cent rise in first half income - although sales growth was largely down to its Rockstar energy drink which it sells on licence.
The company signed a 15 year agreement with Las Vegas based Rockstar in 2012. an extension on a deal initially agreed in 2007. Rockstar has seen sales rise year on year and analysts say it is the main driver of growth at the company.
Shares in the soft drinks firm, whose brands also include Orangina and Rubicon, rose 1.3 per cent after predicting sales of £135 million in the half year to the end of this month.
It said its margins were in line with its expectations and it remained confident on its full-year targets.
An all-share merger with BritVic last year was aborted and Barr said it was able to build growth organically. It said progress was being made AG Barr in the recruitment of a new finance director.
Shares in the firm are up 18 per cent over the last year.