Irn-Bru maker AG Barr has warned profits will be down 20 per cent this year compared with a year earlier.

The firm said it had been a challenging year, particularly for its Rockstar energy drinks division and Rubicon juices, as well as the poor spring and early summer weather.

AG Barr bosses said sales for the 26 weeks to July 27 are expected to be around £123 million - down 10% on the same period last year.

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The company added: "As a result, we expect our profit performance for the full year to decline versus the prior year by up to 20%."

Luxury fashion label Burberry benefited from the weak pound as tourists flocked to its UK stores to snap up new designs by its creative director Riccardo Tisci, the company said.

It helped total sales hit £498 million in the 13 weeks to June 29 - up from £479 million for the same period a year ago.

The Asia Pacific market grew by "high single-digits" driven by China.

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Sales in the US were up but Canada fell.

Low-cost airline Ryanair has warned over plans to cut and close bases at airports from November through next summer as it said delays to Boeing's B737 Max aircraft would hit growth rates.

The group said it was in talks with airports over which loss-making bases will be affected and is set to consult with staff and unions over the planned "short-term" cuts and closures.

Ryanair said it expects to cut its aircraft to 30 for next summer, down from 58, which will cut its summer 2020 growth rate from 7% to 3%.

Full-year passenger traffic growth is now forecast at around 157 million for the year to March 2021, down from 162 million previously expected.

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Ryanair boss Michael O'Leary said: "This shortfall in aircraft deliveries will necessitate some base cuts and closures for summer 2020, but also for the winter 2019 schedule.

"We are starting a series of discussions with our airports to determine which of Ryanair's underperforming or loss-making bases should suffer these short-term cuts and/or closures from November 2019.

"We will also be consulting with our people and our unions in planning and implementing these base cuts and closures, which are directly caused by the B737 Max delivery delays to the B737 Max programme."

He added he will look to "restore our growth to normal levels in summer 2021".