|Master Investor Magazine
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FTSE 250 beverage manufacturer A.G. Barr (LON:BAG) saw its share price rise by 4.66% to 613.33p (as of 13:45 BST) despite posting a 25.8% drop in statutory pre-tax profits for the half year ended 27th July. Revenues also dropped as the benefit from promotional campaign and weather conditions seen in the prior year did not repeat and the company also faced brand specific challenges in the marketplace.
Chief executive Roger White commented: “Our focus remains on delivering long-term growth. We have plans in place to address our specific brand related challenges and are ensuring that the business is appropriately scaled to perform in the current market. Despite continuing economic uncertainty we expect to meet the revised profit expectations communicated in July“.
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