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Irn-Bru maker A.G. Barr estimated that revenue would be down by about 12-to-15% for the year, barring a second nationwide lockdown.
The guidance came as the company reported a fall in half-yearly sales and said it had seen a slow recovery in hospitality and 'on the go' consumption segments as lockdown measures eased.
For the 26 weeks ended 25 July 2020, revenue was expected to be down 8% to £113m on-year.
Sales were hurt by the UK-wide commencement of lockdown on 23 March 2020.
The complete closure of the hospitality sector and a material reduction in the 'out of home' consumption of soft drinks also weighed on performance.
But as lockdown measures had recently started to ease, the company said it was seeing sales in the hospitality and 'on the go' consumption segments beginning to recover, albeit slowly.
Looking ahead, the company estimated, barring a further significant period of lockdown, that full-year revenue for the year ending January 2021 would be in about 12-to-15% below the prior year, with a 'modest reduction in operating profit margin reflecting the impact of sales mix and operational de-leverage.'