Barr upbeat on outlook as profits bubble up 10%

Irn-Bru parent AG Barr today said it was confident about its prospects in the face of a tough consumer environment as the soft drinks maker unveiled a 10 per cent rise in annual profits.

The Cumbernauld-based firm, which also owns the Rubicon and Strathmore brands, posted a pre-tax profit before one-off items of £38.1 million for the year to 26 January, up from £34.8m a year earlier.

Total turnover grew 6.9 per cent to £254.1m and chief executive Roger White said drinks volumes expanded at twice the rate of the wider market.

Barr pulled out of a merger with rival Britvic last year and White said the business had benefited “hugely” from the challenges it has faced since then, “emerging stronger, fitter and more ambitious to develop”.

He added: “Despite remaining cautious regarding the environment we operate in and the challenges we face, we are confident in our future prospects.”

Barr’s board proposed a final dividend of 8.19p a share, up from 7.4p a year ago, lifting the total payout for the year by 10 per cent to 11.02p.