Irn-bru maker A.G. Barr sees FY profit, revenue beating expectations
(Reuters) - A.G. Barr said on Tuesday it expects its full-year revenue and profit to beat market expectations, helped by price hikes and steady demand for its cocktail mixes and beverages.
The company raised prices last year to deal with surging costs and launched new products as it benefited from greater at-home consumption of food and drinks that held even after the pandemic and despite pubs and restaurants reopening.
The maker of the orange fizzy drink Irn Bru forecast revenue of 315 million pounds ($389 million) for the year ended Jan. 28 and said it expects full-year profit to be slightly ahead of market expectations.
Analysts expect the group to report an annual revenue of 302 million pounds and a pretax profit of 42.6 million pounds, according to company-compiled estimates. ($1 = 0.8100 pounds)
(Reporting by Muhammed Husain in Bengaluru; Editing by Savio D'Souza)