Annual report and accounts 2023 - Flipbook - Page 14
A.G. BARR p.l.c. Annual Report and Accounts 2023
Chief Executive’s review
I am pleased to report our results for
the 52 weeks ended 29 January 2023.
Over the past 12 months we delivered
an excellent financial performance and
made significant progress across our
strategic objectives. We emerged from
the pandemic period a stronger
business and I would like to thank
all the teams across the business,
as well as our partners,
suppliers and customers,
for their support.
Overview
The following financial metrics quantify our strong
performance:
• Reported revenue £317.6m (2022: £268.6m)
• Adjusted profit before tax* £43.5m (2022: £38.4m)
• Reported profit before tax £44.4m (2022: £42.2m)
• Adjusted operating margin* 13.6% (2022: 14.9%)
• Net cash at bank* £52.9m (2022: £68.4m)
• Basic earnings per share 30.47p (2022: 25.09p)
Strategic objectives
Our overarching purpose – to create value with values
– remained central to A.G. Barr across the year,
underpinned by our consistent strategic priorities:
• connecting with consumers
• building brands
• driving efficiency
• building trust
We continued to invest in our brands, operations and
people, driving innovation and delivering strong organic
growth across all our business units. We are proud to
have delivered this growth responsibly.
Our organic growth ambition remains as strong as ever,
as is our desire to acquire high quality brands with
strong future growth potential. This was evidenced
in 2022 by the completion of both the Boost Drinks
Holdings Limited acquisition and the early completion
of full ownership of the MOMA business. Operating
in the high growth functional beverage and oat milk
categories, both businesses are exciting additions to
the A.G. Barr Group.
As our portfolio grows, so does our opportunity
to increase our connection and engagement with
consumers. By entering different markets, supporting
different consumption occasions and appealing to
different consumers, we are increasing the long-term
growth potential for the Group as a whole.
Roger White
Chief Executive
12
While the economic uncertainty being felt across the
UK has the potential to stifle industry and business
progress, we believe that both our brand and financial
strengths ensure we are well positioned to invest
through the economic cycle. By driving operational
