29 January 2009 - A.G.BARR p.l.c., the soft drinks group, is pleased to announce that trading has continued in line with our plans and that, accordingly, results for the financial year ending 31st January 2009 are anticipated to be in line with management expectations.
The soft drinks market, as reported by Nielsen up to 27th December 2008 was on a 26 week basis 4% down in volume terms and down 2% in value terms. On a 52 week basis Nielsen reported the market 2% down on a volume basis and flat in value terms. Despite these poor market conditions we have achieved strong volume and value growth across the year.
Trading at Rubicon, which was acquired in August, whilst impacted by higher than anticipated input costs, due to weaker Sterling, has met our expectations in the period.
Following the post acquisition review of the Rubicon business Barr today announced an accelerated integration of the Rubicon business into the Barr operating structure. The proposals will allow for streamlined business processes and increased customer focus at the same time as enhancing sales, operations, supply chain and marketing support. It is anticipated that approximately 12 roles at the Wembley site may be impacted and consultation with employees will commence immediately. The integration is planned to deliver further business improvements as well as the previously disclosed synergies.
It is anticipated that the Preliminary results will be announced on 30th March 2009.
Roger White, Chief Executive, commented:
"Our business has continued to perform well despite the impact of another year of poor summer weather. The combination of a strong core business and a developing portfolio of brands has delivered growth well ahead of the overall market. We have also undoubtedly benefited from improvements in sales execution and our recent restructuring programme across our manufacturing and supply chain base with cost improvements feeding through to the bottom line.
We are pleased with the first few months of our ownership of the Rubicon business and believe that the business will benefit from our integration plans.”