AG Barr has said its Funkin cocktail mixers business continues to grow in traditional areas but also into new formats and market segments.
The group is rolling out its draught cocktail proposition across the on-trade as well as seeing success from take-home packs in retail. The group said Funkin had also enjoyed success at outdoor events across the summer festival season.
The update was included in the company’s report on the six months to 28 July, during which revenue grew by 5.5% to £136.9m and profit before tax and exceptional items increased 4% to £18.2m.
The IRN-Bru producer said it had delivered a solid financial performance having carefully navigated through a challenging and volatile marketplace.
Roger White, chief executive, said: “We have delivered a solid financial performance in the first half of the financial year, navigating through the Soft Drinks Industry Levy implementation, reformulation, extremes of weather and CO2 shortages in addition to a dynamic consumer, customer and macro-economic environment. Our core brands have performed well and have good momentum with both consumers and trade customers.
“We will continue to ensure our actions and investment decisions support our long term growth strategy. We plan to invest further across the second half of the financial year which we anticipate will have a moderate impact on margins. We remain on target to meet our profit expectations for the full year.”