(Alliance News) -Â Shares in AG Barr PLC rose on Monday after the soft drinks maker lifted its full-year outlook on the back of strong trading.
Shares in AG Barr were up 4.8% at 490.50 pence in London early Monday.
The Cumbernauld, Scotland-headquartered firm said positive trading has continued since its interim results and sales have grown ahead of expectations, with strong performances in both its Barr Soft Drinks and Funkin cocktail business units.
"In what remains a challenging supply chain environment, our production and wider supply chain have maintained their resilience and supported the growth in volume we are experiencing," the company said.
As a result of its strong performance, and despite cost pressures, AG Barr now expects revenue and pretax profit for the current financial year to be ahead of current market expectations. It now anticipates revenue of around GBP264 million and pretax profit of GBP41 million.
This would be an improvement on the prior year's results. For the financial year ended January 2021, AG Barr reported revenue of GBP227.0 million and pretax profit, before exceptional items, of GBP32.8 million.
Despite Covid-19 uncertainty, AG Barr expects revenue momentum to continue into 2022.
By Lucy Heming;Â lucyheming@alliancenews.com
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Barr (A.G.) (BAG)