Feb 1, 2022
Irn-Bru maker AG Barr raises profit forecast
Irn-Bru maker AG Barr raised its profit forecast after soft drink sales surpassed pre-pandemic levels. The group said it expects revenue of £267mn for the year ended January, up year on year by 17.5 per cent and slightly ahead of a target set in November. The lender targeted a net interest margin of about 1.75 percentage points in the current year, with higher-yielding lending expected to be offset by mortgage competition and a normalisation of the savings market. US stock markets suffered their worst start to the year since the global financial crisis as the threat of rising interest rates, slowing corporate earnings growth and geopolitical tensions sent stocks stumbling across the board. The London-based miner had commissioned the report by Elizabeth Broderick, Australia's former Sex Discrimination Commissioner, last year to investigate its workplace culture.
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