Irn-Bru firm Barr ‘resilient’ as revenue slips to £227m

Cumbernauld-based Irn-Bru maker A.G. Barr said on Tuesday its revenue fell 11.2% to £227 million in the year to January 24 and statutory profit before tax fell 30.5% to £26 million.

Barr shares fell about 4%.

Barr’s CEO however called the year a “resilient financial performance” and the firm said it remains committed to its plan to recommence dividend payments during the course of the current financial year.

Barr’s other brands include Rubicon and Funkin.

A.G. Barr  CEO Roger White said: “We delivered a resilient financial performance in a year that was difficult for all.

“I am extremely proud of everyone in our business for their commitment and flexibility, which allowed us to remain fully operational throughout the pandemic.

“Across the year, we continued to focus on our key strategic initiatives.

“We have significantly progressed our multi-beverage strategy, extended our reach into new channels and accelerated our roadmap towards net zero, which we aim to deliver by 2040.

“We closed the year in strong financial health, with our brands and business poised for growth on a like for like basis, and with the clear intention to recommence dividend payments in 2021.

“Whilst there now appears to be a route out of lockdown, the immediate future remains uncertain.

“Notwithstanding this current backdrop, our strategy for the year ahead is to support our core growth initiatives with significant investment.

“We have exciting plans to deliver across the group and are confident of continuing to make further progress in the coming year.”

About the Author

Mark McSherry
Dalriada Media LLC sites are edited by veteran news journalist Mark McSherry, a former staff editor and reporter with Reuters, Bloomberg and major newspapers including the South China Morning Post, London's Sunday Times and The Scotsman. McSherry's journalism has also appeared in The Washington Post, The Guardian, The Independent, The New York Times, London's Evening Standard and Forbes. McSherry is also a professor of journalism and communication arts in universities and colleges in New York City. Scottish-born McSherry has an MBA from the University of Edinburgh and a Certificate in Global Affairs from New York University.