Profits up by almost 10% at Irn Bru maker AG Barr
- 25 March 2014
- From the section Glasgow & West Scotland
Pre-tax profits at AG Barr, which makes Irn Bru and other soft drinks, are up by 9.6% to £38.1m.
The Cumbernauld-based firm has announced its final results for the 12 months to 26 January 2014.
Total turnover from the same period in 2013 increased by 6.9% to £254.1m. Net debt was also substantially down from £25.6m to £2.1m.
Chief executive Roger White said the firm was in robust financial health and in a strong position to achieve growth.
"It has been another year of significant progress at AG Barr which has seen us outperform the market and improve our conversion of sales into profit growth," he said.
'Stronger and fitter'
"The financial position of the group has grown stronger in the past 12 months and the platform for growth has been further reinforced by the performance of our brands, assets and people.
"The business has benefited hugely from the challenges of the past year, emerging stronger, fitter and more ambitious to develop.
"Despite remaining cautious regarding the environment we operate in and the challenges we face, we are confident in our future prospects."
AG Barr's results also stated that underlying earnings per share had increased by 10.1% to 27.02p.
The report said core brands such as Irn Bru, Barr, Rubicon and Rockstar, "grew and outperformed the market".