Annual report and accounts 2023 - Flipbook - Page 19
Strategic Report
Corporate Governance
Accounts
D E TA I L S O F A L L O U R
RESPONSIBILITY COMMITMENTS,
G OAL S AN D AC TIVITI E S
can be found on pages 30 to 55
Outlook
We anticipate a continuation of our strong brand
momentum across the Group in 2023/24 as we
continue to invest in the development of our business,
brands and people. This is despite a backdrop of
continued high inflation and the planned introduction
of the Scottish DRS in August 2023, both of which have
the potential to impact consumer purchasing behaviour.
We do however anticipate a short-term impact on
operating margins, as a result of the combination of this
investment, ongoing inflationary cost pressures, and
the initial dilutive impact from the Boost acquisition.
It is our belief that our growing brand portfolio and our
ongoing actions to mitigate cost inflation will support
the delivery of our growth ambitions and at this early
stage we remain confident of delivering further revenue
and profit growth in the year ahead in line with
management expectations.
Looking to the long term, it is our strategy to build
and develop a multi-beverage portfolio capable of
significant growth. We are now in an investment
phase, designed to capitalise on the strategic growth
opportunities ahead. This growth and investment phase
will support the rebuilding of our operating margin over
the medium term and the creation of a stronger and
more sustainable business.
We continue to work hard to retain
the trust of all our employees, our
wide range of stakeholders and
our communities, as we have done
for over 145 years.
Roger White
Chief Executive
28 March 2023
* Items marked with an asterisk are non-GAAP measures. Definitions and relevant reconciliations are provided in the Glossary on pages 199 to 204.
17
