IRN-BRU maker AG Barr has reported a 4.4 per cent increase in profit before tax for the year ending January 28.
The soft drinks giant, also famous for making Rubicon, Strathmore and Funkin, posted profits of £43.1 million, up from £41.3m on the previous 12 months. It reported a strong core brand performance driven by innovation with Irn-Bru sales up 3.2 per cent, Rubicon up 4.9 per cent, and a Funkin revenue growth of 27 per cent.
However, bosses warned that the UK consumer environment remained “uncertain”, with the upcoming sugar tax and the weakness in the pound adding headwinds to a soft drinks market already affected by deflationary pressures.
Chief executive Roger White said: “We have made considerable progress across the business over the last 12 months and delivered a solid financial performance in volatile and uncertain market conditions.
“As consumer tastes and preferences continue to change, our recent announcement that 90 per cent of company owned brands will contain less than 5g of total sugars per 100ml by the autumn of 2017 is a positive demonstration of how the business is responding to consumers’ needs with both pace and commitment.
The UK consumer environment remains uncertain, however we are confident that our great brands, effective business model, clear strategy and strong team ensure we are well placed to realise the full potential of our business and to deliver consistent long-term shareholder value.”
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