Irn-Bru Firm Barr reports first-half profit up 23%

A.G. Barr, the Cumbernauld-based maker of Irn-Bru, Rubicon energy drinks and Funkin cocktail mixers, said on Tuesday that its revenue rose 16.7% to £157.9 million in the six months to July 31 and adjusted profit before tax rose 22.8% to £25.3 million.

The firm announced an interim dividend of 2.5p per share, up 25% from last year, and said it continues to expect full year profit performance ahead of last year.

Reported profit before tax rose 1.2% to £24.7 million.

A.G. Barr reported strong sales momentum across both its business units with Barr Soft Drinks up 12.3% and Funkin up 21.4%.

A.G. Barr CEO Roger White said: “We made a very strong start to the year and continue to see good momentum across our business and brands. 

“That said, the UK’s high level of inflation has accelerated across the summer and is creating a well documented cost of living crisis for many consumers, alongside increasing challenges for industry. 

“We continue to take action to mitigate the cost pressures we face both in the short term across the balance of the current financial year and where possible into 2023. 

“We anticipate in the coming months that the current economic environment will impact consumer purchasing behaviour, however we currently remain confident that our strategy and actions will allow us to deliver a full-year profit performance ahead of the prior year.”