Beverage manufacturer A.G. Barr posted its final results for the 52 weeks ended 27 January on Tuesday, with statutory profit before tax improving 4.2% to £44.9m on revenue which was ahead 8.0% to £277.7m.
AG Barr shares fizzed lower on Wednesday as JPMorgan Cazenove cut its stance on the Irn Bru maker to 'underweight' from 'neutral' and chopped the price target to 570p from 630p amid concerns about growing competition.
Virgin Money Holdings: RBC Capital Markets downgrades to underperform with a target price of 250p.
Irn-Bru maker AG Barr said on Thursday that full-year revenue is expected to be up around 7.5% on the year, thanks in part to strong trading across its core brands.
The UK Environmental Audit Committee is targeting packaging firms and supermarkets to "turn back the tide" on plastic waste and recycling.
Soft drinks maker AG Barr posted a rise in interim revenue on Tuesday and said it was on track to meet its expectations for the year, but profit fell due to higher cost inflation and brand investment.
AG Barr, the maker of Irn-Bru and other soft drinks, said it had increased sales 8% in the first half of the year but profit margins were flattened slightly by increased investment and higher costs resulting from the weak pound.
Irn Bru maker AG Barr nudged annual profits higher as it maintained its market share in a "volatile and uncertain" market.
Soft drinks maker AG Barr confirmed on Wednesday that it plans to reduce the sugar content across its drinks portfolio so that more than 90% of its beverages will contain less than 5g of total sugar per 100ml by this autumn.
Northgate: Barclays reiterates Neutral with a target price of 600p.
Soft drinks maker AG Barr put some fizz back in its performance in the second half of the year to help it hit full year profit targets and said it was well placed to traverse another challenging year ahead.
Soft drinks manufacturer AG Barr is expected to reveal improved trading in the second half on Wednesday following a decline in revenue in the first six months.
Debenhams: JP Morgan keeps at underweight with a target price of 54p.
UK-based soft drinks producer A.G. Barr has recalled four batches of its fizzy mango Rubicon drink as yeast fermentation has led to the risk of the drink exploding.
Sales from soft drinks maker AG Barr lost some of their fizz in the first half of the year amid continuing challenging conditions, but cash flowed strongly and management announced a 10% staff reduction as part of new restructuring plans.
Soft drinks maker A.G. Barr reports its half-year results on Tuesday after warning of the impact of difficult market conditions in an August trading update.
Defensive issues took over from cyclicals, with beverage stocks climbing to the top of the leaderboard on the back of positive broker commentary.
The government has confirmed it will introduce a soft drinks industry levy across the UK as part of its plan to tackle childhood obesity.
London stocks finished broadly flat on Friday following a batch of uninspiring economic data including reports on UK construction, eurozone gross domestic product and US retail sales.
The FTSE 250 was up 0.62% to 17,918.63 points in Friday afternoon trade.