Robust AG Barr reveals results

THE City spotlight swings tomorrow on whether AG Barr has identified a site for a key plant in the south as the Scottish soft drinks maker is also expected to unveil robust annual profits.

Cumbernauld‑based Barr, maker of Irn-Bru, has expanded beyond its core Scottish customer base in the past couple of years, with England and Wales now chipping in more than half of group sales.

The company has told investors it wants to boost its distribution chain by opening a plant in the southern part of England.

Barr is expected to have shrugged off surging input costs, particularly in plastic packaging and steel for its cans, to register further record annual sales.

The City consensus is for total revenues to have risen to £236 million in the year to January, up from £222.4m.

Pre-tax profits are expected to have lifted to £33.4m from £31.6m last time, while Numis have pencilled in a total dividend of 27.5p compared with 25.41p last time.

The Co-operative Group’s pursuit of 632 Lloyds branches will overshadow its annual results on Thursday, although the banking arm’s numbers are expected to be resilient. However, its supermarkets are tipped to bear the scars of price discounting in the sector.

Also on Thursday, Thomson Holidays owner TUI Travel will reveal whether it has made further gains at the expense of its struggling rival Thomas Cook in its half-year update.

Europe’s biggest tour operator posted a strong first quarter with summer bookings flat on the previous year, compared to a 14 per cent slide in the market overall.

Interim results from housebuilder Bellway on Tuesday are expected to show strong profits growth, boosted by an 8.7 per cent rise in average selling prices.

Monday: AG Barr, Bowleven, Manganese Bronze

Tuesday: Bellway, Wolseley

Wednesday: Melrose Resources, Valiant Petroleum

Thursday: Clinton Cards, Moss Bros, TUI Travel, FirstGroup

Friday: Tate & Lyle