Irn-Bru producer set to increase prices
AG Barr, the company who produces beverages including Irn-Bru, announced it was increasing its prices after packaging, ingredients and energy costs jumped.
The company, which also makes Rubicon drinks and Funkin cocktail mixers, had revenues of £267m in the year to January 30, up 17.5% on the previous year.
It also exceeded its own expectations – despite the spread of the Omicron Covid variant and restrictions on socialising. Sales are also higher than its pre-pandemic performance of £255.7m.
AG Barr expects its full-year profit before tax and one-off items to be slightly higher than its November estimate of £41m.
The company said: “While government restrictions have impacted consumer behaviour across the year, both our Barr Soft Drinks and Funkin business units have traded well, particularly during the periods when restrictions were eased.”
Chief executive Roger White said: “We have remained fully operational throughout the year, producing high-quality products and providing strong business support to all of our customers.
“We have delivered an excellent financial performance against a volatile backdrop, whilst at the same time delivering on our strategic priorities.”