Bru-maker braces for 'challenging' months as hospitality and 'impulse' sales dry up
Wednesday, January 27, 2021
Irn Bru maker Barr has warned investors that they face a 'challenging' months as easing hit hotels and catering services, boosting sales.
The full-year operating margin before special items is forecast to remain at the prior-year stage which will result in profit before taxes that outpaces market expectations.
Barr said operations remained "strongly cash generative throughout the year" throughout the year and was expected to close the period with approximately £50m net in the bank.
General Manager Roger White said,"Within a volatile environment our sites have remained safe and operational and I wish to thank our employees who have worked tirelessly to support our customers and consumers in these testing times.
John Moore, senior investment manager at investment firm Browin Dolphin, said: "It's been a very tough and volatile trading environment for AG Barr – in many ways it is "phenomenal" phenomenal "in many ways that it expect profits to have exceeded adjusted guidance for the year, while margins have also been relatively robust.
Full-year results for the year are due on 30 March.