Irn-Bru maker AG Barr has reported a profits drop in its half year results this morning.
The Cumbernauld firm posted revenue of £122.5 million against £136.9m, and profit before tax and exceptional items of £13.9m for the six months ended July 27, down from £18.2m for the same time last year.
However, while shares were down nearly 30 per cent when the firm issued a profit warning in July, share price rose more than 8% in early trading.
Barr said it remains on course to deliver a full year performance “in line with its revised expectations”.
It said that after the launch of IRN-BRU Energy in July there had been encouraging initial trade and consumer response, and there was strong Funkin performance.
READ MORE: AG Barr shares plunge 28% on profit warning
The firm said in July that a combination of poorer weather and lack of a favourable backdrop facilitated in part by its preparations for the sugar-tax levy last year hit this year’s figures.
Roger White, Chief Executive, said today: "Our focus remains on delivering long-term growth.
“We have plans in place to address our specific brand related challenges and are ensuring that the business is appropriately scaled to perform in the current market.
"Despite continuing economic uncertainty we expect to meet the revised profit expectations communicated in July."
A new Red Dwarf advertising campaign is set to help roadside assistance firm AA return its membership base to growth as it insisted it had already stemmed declines.
The group said its membership base had stabilised at 3.19 million in its first half, although this is still down slightly on the 3.25 million seen a year earlier.
READ MORE: Plans approved to convert Wellington House into hotel
It said membership numbers are set to be broadly flat this year and return to growth next year, helped by a "sustained" marketing push, including its recently launched ad campaign, which features the reunited cast of popular sci-fi sitcom Red Dwarf.
The AA reported an 8% fall in underlying pre-tax profits to £46 million for the six months to the end of July, although underlying earnings were 2.5% higher at £165 million as revenues rose 2.3% to £491 million.
Statutory pre-tax profits jumped 50% to £42 million in the six months to the end of July, but this was boosted by a raft of one-off items.
Shares slipped 2% after the results.
Anger is growing over payments made to Thomas Cook bosses before the firm collapsed.
Directors at the travel company received nearly £50 million in pay and perks over the past decade.
EXPLAINER: Thomas Cook: Here's how stranded holidaymakers will be refunded
Prime Minister Boris Johnson questioned whether senior managers should pay themselves "large sums of money" as their businesses go "down the tubes".
Speaking in New York, he said: "I have questions for one about whether it's right that the directors, or whoever, the board, should pay themselves large sums when businesses can go down the tubes like that."
Shadow chancellor John McDonnell said Thomas Cook bosses have "a moral responsibility to return their bonuses".
Thomas Cook's demise in the early hours of Monday morning means around 9,000 UK workers face being out of work.
Business Secretary Andrea Leadsom has called on the Insolvency Service (IS) to "fast-track" its investigation of Thomas Cook.
MORE INFORMATION: Thomas Cook customers are being urged to check thomascook.caa.co.uk for further information.
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