AG Barr trades in line, plans dividend restart

AG Barr said trading was in line with expectations and that it planned to restart dividends in this financial year after the easing of lockdown restrictions for the hospitality sector.

Despite lockdown restrictions in place for much of the first quarter, sales of soft drinks such as Irn Bru have been relatively strong since the start of the financial year in late January, the beverage maker said.

Sales direct to consumers of AG Barr's Funkin cocktails were strong and the range's on-trade sales were a cause for optimism about the hospitality sector, the company said in a statement before its annual general meeting.

"Current trading is encouraging," AG Barr said. "Our balance sheet remains strong and we remain committed to our plan to recommence dividend payments during the current financial year."

AG Barr said it would update investors on its plans for the dividend in early August and that it was confident about its prospects for the year.