Irn-Bru owner AG Barr on track for annual targets after post-lockdown sales boost
AG Barr today said sales of its soft drinks and cocktail mixes have surged since the start of the year as leisure drinking returned after months of lockdown.
The company, best known for its Scottish fizzy drink Irn-Bru, said it plans to invest more in products and marketing after “encouraging” trading in recent months.
“As lockdown restrictions have eased, we have seen a positive impact on both our sales volume and mix, with a shift back towards ‘drink now’, hospitality and leisure,” the company said in a statement.
Following the trading update, shares in AG Barr rose by 0.4 per cent as markets opened.
Its newly launched Rubicon RAW Energy drink had been performing well and demand for its cocktail brand Funkin continued after a strong 2020.
AG Barr reiterated that it plans to recommence dividend payments this year but warned that 2021 would “not be an entirely normal year”.
However, despite some lingering uncertainty in the short term, the firm remains confident in the year ahead after profit slumped in 2020.