Annual report and accounts 2023 - Flipbook - Page 17
Strategic Report
Corporate Governance
Accounts
Over the past 12 months
we have continued to
invest in a wide range
of consumer marketing,
promotion and
communication
programmes across
our business units
and brands.
Building brands
growth strategy has delivered increases in low
calorie (IRN-BRU XTRA up 9%), increased innovation
(IRN-BRU 1901 up 5%), development in the Energy
category (IRN-BRU Energy up 15%) and increased
distribution within England and Wales.
Our brand building strategy remains focused on
growing awareness, trial and loyalty through consumer
engagement activity, increasing our product
distribution through effective sales execution and
supporting brand development through innovation.
The Rubicon masterbrand performed very strongly
across all variants – Sparkling (up 18%), Still (up 14%),
Spring (up 27%) and Rubicon RAW Energy (up 30%).
It is particularly pleasing to see the acceleration in
Rubicon Spring which has been in the market for
over six years and is now the UK’s number 1 sparkling
flavoured water brand.
Barr Soft Drinks has delivered a strong revenue
performance across its core brands.
IRN-BRU’s total revenue grew by 6% while volumes, as
anticipated, fell by 4%, reflecting the short-term impact
of price changes across the market. The IRN-BRU
was sustained with FUNKIN’s sales in this channel
up 8%, consolidating its Number 1 position. FUNKIN
continues to innovate across product, packaging and
formats and in addition has progressed its international
business development, on track to launch a state
specific market trial within the US in 2023.
Our drive to build a multi-beverage portfolio has made
positive progress across the last year. The successful
acquisition of the Boost and MOMA businesses highlight
our desire to participate in high growth categories
where our brand building expertise and business model
can add significant value.
FUNKIN benefited from the recovery of the hospitality
sector and the ongoing market growth of cocktail
consumption, with on-trade revenue up by 23%. The
momentum in the take home RTD cocktail category
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