(Reuters) – Irn-Bru maker A.G.Barr Plc said on Tuesday almost all of its soft drinks were now exempt from a sugar tax levied by Britain which sent beverage makers scuttling to change formulations and raise prices of drinks.
Britain’s sugar tax on soft drinks came into effect last April as part of efforts to battle childhood obesity, with charges levied on drinks containing more than 5 grammes of sugar per 100 millilitres.
Barr, which reported a 2.5 percent rise in adjusted pretax profit for the full year on Tuesday, said it has successfully reformulated 99 percent of its soft drinks to avoid being taxed.
It did not specify which drinks are still covered by the tax.
(Reporting by Pushkala Aripaka in Bengaluru; editing by Patrick Graham)