Soft bubble goes pop

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barr-profits-drop

AG BARR has said that it expects to see sales down by 10% and profits by as much as 20% for the 26 weeks to 27 July 2019.

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The Scottish soft drink producers said a return to its “traditional pricing strategy”, combined with disappointing Scottish weather during spring and a poor performance from Rockstar energy and Rubicon were key contributors to the slump.

AG Barr’s share price was down by more than 28% when the profit warning was announced.

Chief executive Roger White described the dip in performance as a “short-term impact”, adding that AG Barr is focused on returning to growth.