Source: Sharecast
In the 26 weeks to 26 July, adjusted pre-tax profit rose 20.1% to £35.2m on revenue of £228.1m, up 3.1% on the same period a year earlier.
Soft drinks revenue grew 3.3% to £201m. AG Barr said Boost was a key driver of the increase, delivering "strong" double-digit revenue growth following brand changes implemented in 2024/25.
This was mainly driven by performance in the wholesale channel, it said. "In line with our strategy to broaden Boost's distribution and brand reach, we have taken early steps to expand Boost into retail but this opportunity continues to be ahead of us," the company added.
Sales of Irn-Bru were in line with the previous year, with momentum building through the first half. AG Barr said it expects growth in the second half, powered by increased marketing investment and a new limited-edition flavour launch.
Chief executive Euan Sutherland said: "I am pleased to report strong first half results that reflect continued delivery against our strategic priorities and positive momentum across the business. We are making good progress putting in place the building blocks of long-term growth.
"We are investing in our brands, operations and people to build a stronger, scalable, more profitable business. Our soft drinks portfolio performed well in H1 and we expect continued growth in H2 underpinned by increased marketing activity and new product innovation. We also continue to diversify our portfolio into high growth segments, with our recent expansion into the functional beverages space via the acquisition of Innate-Essence which includes The Turmeric Co and Raw Hydrate brands.
"Our expectations for the full year 2025/26 are unchanged, and we remain confident in our strategy and ability to deliver sustainable, profitable growth over the long-term."
At 1040 BST, the shares were down 0.9% at 672.00p.
Broker Peel Hunt, which rates the stock at 'buy' with a 750p price target, said: "Given the strength of the first half an upgrade might have been expected, but the increased marketing spend in 2H is set to hold this back.
"Management flagged that the market is seeing that promotional activity has intensified, in the grocery multiple channel in particular, and consumer confidence remains subdued. However, it remains confident in guidance and the long-term opportunity. The shares are trading on 16x January 2026E PE and 8.6x EV/EBITDA."