Irn-Bru owner A.G. Barr resumed dividend payments after reporting a higher annual profit on Tuesday, helped by lockdown-driven demand for soft drinks and tight cost controls.
The group behind fizzy, bright orange Scottish drink Irn-Bru said it still faces 'significant' inflationary pressures, but has been managing the challenges by adjusting costs and pricing.
"(We) will continue to seek to manage our exposure proactively through mitigating actions across revenue management, pricing, procurement and cost control," Roger White, chief executive officer said, referring to inflation.
Passing The Burden
At-home consumption of food and drinks during the pandemic has helped companies such as A.G. Barr, but soaring inflation in Britain, amplified by global supply chain issues, has forced firms to pass the burden on to customers.
A.G. Barr also noted sales in the early weeks of the new financial year were well ahead of the prior year and in line with expectations.
The beverage group announced a total dividend of 12 pence per share after it had stopped paying it in 2020, and highlighted it expects a gradual reversing of the at-home drinking trend as pandemic restrictions are lifted.