Irn-Bru owner's annual profit to exceed pre-pandemic levels

  • 11/29/2021
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Nov 29 (Reuters) - A.G. Barr (BAG.L)expects annual profit to exceed pre-pandemic levels and beat current market expectations, with "on the go" and hospitality sectors remaining particularly strong, the Scotland-based soft drinks maker said on Monday. The company, best known for fizzy drink Irn-Bru, forecast both annual revenue and pretax profit ahead of current market expectations, despite ongoing near-term operating cost pressures. (https://refini.tv/2Zy1gTX) Irn-Bru was in the spotlight earlier this month when Scotland"s First Minister Nicola Sturgeon handed U.S. Representative Alexandria Ocasio-Cortez a can of the orange fizzy beverage at COP26 in Glasgow, with Ocasio-Cortez giving the cherished Scottish drink a thumbs-up. A.G. Barr expects full-year revenue of about 264 million pounds ($351.73 million) and profit before tax of around 41 million pounds for the 12 months ending January 2022, compared with 26 million pounds last year. The company, which has seen a revival in demand since COVID-19 curbs were relaxed earlier in the year, said the fast-moving pandemic situation remains a risk but it still expects its revenue momentum to continue into 2022. The emergence of a new variant of coronavirus late last week has raised questions of increased curbs ahead of Christmas, with Britain announcing some new measures to try and slow the spread. (https://reut.rs/3rf55c4) ($1 = 0.7506 pounds)

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