Irn Bru and Rubicon maker AG Barr set for higher profits as sales flow

ANNA WISE

IRN-BRU and Rubicon owner AG Barr has enjoyed stronger revenues after acquiring new brands, although it continued to caution over the inflation hit.

The soft drinks maker said it expects its reported revenues over the year to 29 January to be around 17 per cent higher, to £315m from

£268.6m in 2021.

This was driven up by a full year of sales of oat-based milk and porridge brand Moma, having taken full ownership of the brand at the end of 2021.

AG Barr also snapped up energy drinks brand Boost in a deal worth up to £32m in early December, which it said has already strengthened its group sales over the last eight weeks.

As a result of the good performance and brand growth, AG Barr said its full-year profits are likely to come in slightly ahead of market expectations. However, the group warned inflationary cost pressures were likely to impact its operating margins along with a “short-term dilutive impact” from the acquisition of Boost. Shares bounced over four per cent on the news yesterday.