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AG Barr's H1 results hit by £10M black hole after inventory error. 05-Aug-2026 Last updated on 05-Aug-2026 at 11:14 GMT AG Barr has seen around £10 million wiped off its balance sheet due to a distribution error, denting what had been a positive start to the financial year. The Irn-Bru manufacturer told investors in a trading update this week that "reduced stock availability", caused by inventory being in the wrong locations, had hit sales by an estimated £10 million. This issue was attributed to internal supply chain issues linked to the group's "capability and capacity change programme" and third-party manufacturers. Despite the setback, AG Barr has registered a positive start to the first half of FY2026, with revenue expected to be around £246 million, an 8% increase year on year. Although the Cumbernauld-based firm has reaffirmed its full-year profit guidance, its share price has fallen by 6.7%. The company added that it expects double-digit percentage revenue growth for the year as a whole, supported by a stronger second half. Fentimans and Frobishers have now been fully integrated into the business following their high-profile acquisitions earlier this year, while core brands Irn-Bru, Rubicon and Boost continue to perform "strongly". Operational efficiencies gained from the integrations are expected to filter through in H2, the company said, adding that its manufacturing investment programme "remains on track and within budget". AG Barr chief executive Euan Sutherland said: "Consumer demand for our brands is strong, with all core brands gaining market share. "The supply constraints which impacted Q2 performance are being resolved and, with strengthening trading momentum driven by our refreshed core brands and new product development, we remain confident for the full year."

FTSE 100 edges higher as miners offset BP weakness. Mining shares lifted London markets as falling oil prices erased early gains for energy heavyweight BP today. August 4, 2026 The FTSE 100 posted modest gains on Tuesday, although it lagged a strong rally on Wall Street as weakness in oil producers offset strength in mining stocks. The leading index added 0.2%, while the FTSE 250 outperformed with a 1.0% gain, helped by strong corporate updates from Travis Perkins and several mid-cap names. Mining companies provided the biggest lift to the FTSE 100 after higher metals prices boosted the sector. Antofagasta climbed 6.9%, Anglo American gained 5.5% and Endeavour Mining advanced 3.4%, helping counter losses elsewhere in the index. BP beats forecasts but shares reverse lower. BP reported second-quarter figures ahead of expectations, with underlying replacement profit before interest and tax climbing to $10.31 billion from $5.25 billion a year earlier, exceeding the company consensus forecast of $9.48 billion. New chief executive Meg O'Neill described it as a strong quarter but acknowledged the business had areas where performance "fell short". She said BP had already made progress strengthening its balance sheet and outlined plans to sharpen the group's focus, just a day after announcing it would seek a buyer for its US biogas business, Archaea, which was acquired in 2022 for $3.3 billion. O'Neill said the company needed to "get fit to grow", identifying stronger financial discipline as a priority alongside wider operational improvements. Despite the earnings beat, BP shares failed to hold early gains as crude prices retreated. Brent oil moved closer to $80 a barrel after US Treasury Secretary Scott Bessent said an agreement with Tehran to reopen the Strait of Hormuz to shipping traffic could be reached by Wednesday. The decline in crude prices dragged BP down 4.9% by the close, while Shell lost 2.5%. Smith & Nephew disappoints as Travis Perkins rallies. Smith & Nephew was the weakest performer on the FTSE 100, falling 6.3% after reducing its full-year sales growth forecast to 4% from around 6%. Second-quarter underlying revenue growth of 1.6% missed expectations as demand for hip and knee implants in the US remained weaker than anticipated, prompting analysts at Panmure Liberum to describe the update as disappointing. On the FTSE 250, Travis Perkins jumped 18% after reporting interim adjusted operating profit of £67 million, ahead of market expectations, with management pointing to encouraging early progress in its turnaround strategy. AG Barr lost 5.4% after supply chain disruption reduced product availability, while CLS Holdings fell 8.0% after warning full-year earnings would come in below market forecasts as leasing activity remained slower than expected. Wall Street rallies on technology earnings. European markets enjoyed a firmer session, with France's CAC 40 rising 0.6% and Germany's DAX gaining 0.8%. US stocks significantly outperformed London, driven by another surge in technology shares. The Nasdaq Composite climbed more than 2.5%, while the S&P 500 rose 1.8% towards another record close and the Dow Jones Industrial Average gained 1.8%. Palantir soared 26% after reporting quarterly results that chief executive Alex Karp described as "otherworldly", while Caterpillar gained 6% after annual sales topped $20 billion for the first time. Investors will now turn their attention to SpaceX's first earnings report since its June stock market debut, with markets closely watching its outlook, capital spending plans and the expiry of a share lock-up period later this week, which could substantially increase the number of shares available for trading.

AG Barr sales rise 8% despite £10m supply chain hit. AG Barr expects first-half revenue to climb eight per cent to around £246m, despite supply constraints wiping an estimated £10m from sales during the period. The Irn-Bru and Rubicon owner said revenue for the 26 weeks to 1 August was up from £228.1m a year earlier, supported by growth across its core brands and contributions from recent acquisitions. However, sales were held back during the second quarter by reduced stock availability linked primarily to internal supply chain disruption arising from its manufacturing capability and capacity programme. The drinks group was also affected by problems at third-party manufacturers, with the combined issues estimated to have reduced first-half revenue by £10m. AG Barr said the constraints were being resolved and maintained its full-year profit expectations. It now anticipates double-digit percentage revenue growth for the year, supported by stronger availability, market share gains and new product launches. First-half operating margin is expected to land in the middle of the company's guidance range, before strengthening during the second half as integration and insourcing benefits come through. Chief executive Euan Sutherland said: "During the first half of the year Grocery Gazette made significant progress against its strategic priorities. "Grocery Gazette completed the integrations of both Frobishers and Fentimans, continued to successfully drive its core brand propositions and made further progress with its manufacturing investment programme. "Consumer demand for its brands is strong, with all core brands gaining market share. "The supply constraints which impacted Q2 performance are being resolved and, with strengthening trading momentum driven by our refreshed core brands and new product development, we remain confident for the full year." Irn-Bru and Boost drive market share gains AG Barr said its core drinks brands entered the second half with strong momentum following distribution gains, product launches and increased marketing investment. Irn-Bru grew ahead of the wider market in both England and Scotland, with its strongest performance in England following the rebrand of Irn-Bru Zero. Rubicon's trading improved as the half progressed, supported by refreshed branding and new product development. Boost delivered double-digit growth as it expanded further into grocery and entered the healthy hydration market with Boost Water+. Growth across the three core brands was partly offset by weaker performances from Funkin and Barr Brands. AG Barr said recent market data showed the business growing ahead of the wider soft drinks category. Fentimans and Frobishers integrations completed The drinks group completed the integrations of Fentimans and Frobishers during the half, in line with its timetable. Operational efficiencies from both deals are expected to begin supporting margins during the second half. AG Barr acquired premium soft drinks maker Fentimans and juice brand Frobishers as it sought to broaden its portfolio beyond its established carbonated drinks business. The company said its wider manufacturing investment programme remained on schedule and within budget. Production of Boost Sports was brought in-house at its Cumbernauld factory at the end of the half, while a planned capacity upgrade at its Milton Keynes site is continuing as expected. AG Barr will publish its full interim results on 29 September.