Soft drinks group AG Barr today forecast a fall in annual sales amid “highly competitive” market conditions.
The Cumbernauld‑based maker of Irn-Bru said its results for the financial year ending 30 January were set to show a 1.5 per cent decline in ongoing revenues to about £257 million.
However, the group – which also counts Rubicon, Tizer and Strathmore water among its brands – insisted its business performance had continued to improve during the second half of the year, with fourth-quarter revenue growth in excess of 2.5 per cent.
Barr, led by chief executive Roger White, warned in September that its annual profits would be broadly flat after reporting an 11.3 per cent drop in pre-tax profits for the first half.
In today’s trading update, the company said: “Having dealt with the challenges of the first half and successfully managed the festive trading period we are on course to meet our expectations for the year.
“While trading conditions are expected to remain challenging, we are confident that the combination of our strong and flexible business model, our differentiated brands and our well-invested asset base will allow us to deliver further long-term business success.”
The group is expected to announce its full-year results on 29 March.