Annual report and accounts 2023 - Flipbook - Page 12
A.G. BARR p.l.c. Annual Report and Accounts 2023
Our strategy
Our overarching purpose is to create value, with values – for our
shareholders, consumers, customers and for society as a whole.
We do this by building great brands.
Connecting with
consumers
Consumer insight drives our business.
Consumer preferences are changing and
we take the time to listen, to understand
and to respond proactively to ensure our
portfolio of brands constantly develops
to meet our consumers’ changing needs.
At an A.G. Barr Group level this insight is
a key factor in how we identify potential
acquisition opportunities. We monitor
consumer trends closely, specifically
in relation to fast moving packaged
consumer goods, specifically identifying
developments in the beverage sector
as well as emerging or high growth
categories of interest.
At a business unit level these consumer
trends underpin our approach to
innovation, including product, packaging
and ingredients, as well as our consumer
engagement and marketing activities.
In the past 12 months we have placed
a particular focus on areas such as
digital sales and marketing as well as
using our brands to raise awareness
of our sustainability progress.
Building
brands
We are brand owners and builders,
growing our diverse and differentiated
brand portfolio both organically and
through acquisition.
For our existing portfolio of powerful
brands we do this in a number of ways
– we innovate, we grow brand awareness
and loyalty through consumer
engagement activity, and we build our
product distribution through effective
sales execution with customers.
We are also ambitious, with a proven track
record of successfully acquiring new brands.
Our core competency lies in soft drinks,
however we have broadened our brand
portfolio in recent years with a particular
focus across the multi-beverage landscape.
Our strategic priorities bring this purpose
to life and set out the steps we take to build
a great business with great brands.
Driving efficiency
We continually strive for greater
effectiveness across our business,
investing for growth and efficiency,
while also ensuring strong financial
controls are in place.
From investment in new software
platforms to an increasing focus on digital
development and automation, as our
business develops, we are committed to
driving continuous improvement across
our processes and infrastructure.
And in our Barr Soft Drinks business unit
we have a well-invested asset base where
we drive operational improvements and
flexibility through our expansionary capital
investment programmes, equipping us
with some of the industry’s most efficient
operational capability.
Building
trust
Building and maintaining long-lasting
trust and successful relationships is central
to our business and always has been. Our
responsible behaviour over the last 145
years has created a firm foundation, upon
which we want to build further.
Being a trusted business that acts with
integrity is fundamental to our stakeholder
relationships – from our consumers
and customers to our suppliers and
communities. Equally, as the world around
us changes, with climate change in
particular becoming increasingly more
pressing, our strategic choices are more
than ever informed and supported by our
desire to do the right thing and to play our
part in addressing the key issues facing
the world and society.
We have a clear strategy and quantifiable
goals across our four responsibility
commitments – Acting with Integrity,
Respecting the Environment, Supporting
Healthy Living and Giving Back. Whether
it’s our increased use of recycled materials,
our increasing number of women in
leadership roles or our charitable giving,
we are committed to delivering against
our long-term responsibility strategy.
For more information on our Strategy in Action see pages 18 to 29
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