Irn Bru maker AG Barr expects profits to fall 20% this year with revenue for the 26 weeks to July 27 to be in the region of £123m, representing a 10% decline on the previous year.
The company blames poor sales of its Rockstar energy and Rubicon juice drinks, as well as disappointing spring and early summer weather, most notably in Scotland and the north of England.
Roger White, Chief Executive Officer, commented :
“While the Funkin business goes from strength to strength, it has been a challenging start to the year for Barr Soft Drinks. Weather comparatives and trading, particularly in the impulse on-the-go market, have been even tougher than expected which, along with some brand specific challenges, have led to a short-term impact on our financial performance. We are focused on returning to growth and will continue to take the actions we believe necessary to succeed in the dynamic environment within which we operate”.