Drinks company raises its profit forecast after Irn Bru Twitter storm

AG Barr, which owns Funkin’ Cocktails along with a slew of soft drinks has reported record sales on the back of international politicians going wild for Irn Bru.

Drinks company AG Barr, which counts Tizer and Rubicon beverages among its portfolio, has revealed it generated revenues of £267 million in the year to 30 January, up 17.5% on the previous year.

Its profits surpassed AG Barr’s own expectations, and means that sales are now higher than the company’s pre-pandemic performance of £255.7 million.

The company may have Irn Bru to thank for its impressive figures, as the orange drink was at the centre of a Twitter storm that blew up last year when international leaders were pictured trying it for the first time during COP26.

Shares in AG Barr soared after Nicola Sturgeon, Scotland’s first minister, posted an image of her handing a can of the drink to US congresswoman Alexandria Ocasio-Cortez during the event.

Scotland’s most popular fizzy drink, made by AG Barr, was an official drinks sponsor for the environmental conference, which was held in Glasgow during October and November last year.

“We can say hand on heart that we didn’t go out to court any publicity, but the brand is part of the fabric of Scotland,” Roger White, chief executive, AG Barr said at the time.

As a result of strong sales, AG Barr expects its full-year profit before tax and one-off items to be slightly higher than its November estimate of £41 million.

However, the company also revealed this week that it is putting its prices up in response to a jump in costs for its packaging, ingredients and energy bills.

A spokesperson for the company said: “While government restrictions have impacted consumer behaviour across the year, both our Barr Soft Drinks and Funkin’ business units have traded well, particularly during the periods when restrictions were eased.”