Irn-Bru maker AG Barr has posted a jump in profits and growth across all its brands, with mixers performing particularly well as Britons are consuming cocktails in record numbers.
The Scottish soft drinks company, which also makes Rubicon and the Funkin cocktail brand, said 7.4 million people drink cocktails when they go to a bar, club or restaurant, a 13 per cent increase compared with pre-pandemic levels. About 43% of those cocktail drinkers indulge at least once a week.
As a result, sales of its mixers when compared to pre-pandemic jumped more than 60% in the 10 weeks after lockdown restrictions were lifted.
READ MORE: Soft drinks giant Irn-Bru owner slashes costs as inflation surges
“The cocktail category has performed extremely well, benefiting from increased numbers of consumers returning to venues and increasing levels of participation in the category,” the company said. “Cocktails outperformed other categories.”
Profits during the year to January were 62% higher at £42.2m on sales of 268.6m, with growth across all brands. This was despite the company being forced to increase prices to cover its rising costs.
"Our business and brands have once again proven their resilience in uncertain and often challenging circumstances," chief executive Roger White said.
"We have accelerated our revenue growth and consequently delivered a strong financial performance. In the year we have recommenced our dividend, alongside paying a one-off special dividend, and our balance sheet has continued to strengthen."
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