StockMarketWire.com - Irn-bru maker AG Barr warned of weaker demand following 'significant challenges' in the hospitality sector as consumers prioritised take-home purchases following government efforts to contain the Covid-19 outbreak.

'While consumers are currently prioritising take-home purchases, and in some cases shopping more locally as a result of the government's containment measures, there are significant challenges for the hospitality sector which in total accounts for c.10% of our business,' the company said.

'The circumstances resulting from Covid-19 are 'now creating an unprecedented level of uncertainty for the UK and beyond,' it added.

In an effort to offset the impact from the challenging environment, the company said it would freeze all new capital projects and review all existing projects, as well as 'scaling back immediate marketing and commercial activity where sensible across the group.'

The publication of its full-year financial results would be delayed following a request from UK authorities amid the coronavirus outbreak, AG Barr said.

The Financial Conduct Authority issued a statement requesting that listed companies observe a moratorium on the publication of preliminary financial statements.






At 8:13am: [LON:BAG] Barr A.G. PLC share price was -29.25p at 403.75p



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