Irn-Bru owner AG Barr increased sales by 15% year on year, strengthened by the newly acquired Boost and MOMA brands, a trading update for the 52 weeks to 29 January revealed.
Roger White, chief executive, stated: “We have accelerated the development of the business, further building our portfolio of differentiated brands with the acquisition of Boost and taking full ownership of MOMA.”
Full-year profits are predicted to outperform both the year prior and market expectations, the soft drink manufacturer said.
Cash flow is forecasted to be “robust” at the year end, with the full balance sheet due in Barr’s full-year results on 28 March.
The Scottish drinks group expects “further revenue growth,” in 2023 but added in its statement that “a backdrop of continued high inflation and the planned introduction of a deposit return scheme (DRS) in Scotland in August 2023… [may] have the potential to impact consumer behaviour.”
In December, Barr acquired energy drink company Boost for £32mln before purchasing the remaining 38.2% stake of oat milk producer MOMA to become sole owners.
AG Barr is currently valued at £5.49, up 4% today.