Irn Bru maker AG Barr posted a “disappointing” first-half after the sugar tax and wet summer weather delivered a blow to sales and profits.
The FTSE 250 company, which also owns Rubicon, Strathmore and Funkin, reported a 10.5pc fall in sales to £122.5m in the six months to July 27 as it struggled against last year’s soaring temperatures.
Profits tumbled by more than a quarter to £13.5m during the period, as AG Barr blamed “complex” pricing changes relating to the sugar tax.
It comes after the Scottish company warned in July that profits would come in lower than expected.
AG Barr, which was founded in 1875 as a cork-cutting business, called the results “disappointing”.
Soft drink makers scrambled...
Start a 30-day free trial for unlimited access to Premium articles
- Unlimited access to Premium articles
- Subscriber-only events and experiences
- Cancel any time
Free for 30 days
then only £2 per week
Save 25% with an annual subscription
Just £75 per year