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Sept. 22, 2020, 2:50 a.m. EDT

A.G. Barr profit falls on COVID-19 hit, charges

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By Matteo Castia

A.G. Barr PLC reported Tuesday a fall in pretax profit for the first half of fiscal 2021 on lower revenue hurt by the coronavirus pandemic, and exceptional charges.

The drinks producer--which owns the Irn-Bru, Rubicon, Strathmore and Funkin brands--made a pretax profit of 5.1 million pounds ($6.5 million) for the six months ended July 25, compared with GBP13.5 million in the year-earlier period.

This includes a GBP11.5 million pretax exceptional charge related to the continuing business re-engineering program and impairment of Strathmore brand and assets, A.G. Barr said.

Revenue fell to GBP113.2 million from GBP122.5 million, as the pandemic slashed the hospitality sector.

The company said dividend payouts remain under review and are expected to be resumed next year.

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