Annual report and accounts 2023 - Flipbook - Page 8
A.G. BARR p.l.c. Annual Report and Accounts 2023
Chair’s introduction
I am incredibly proud to have taken
on the role of Chair at A.G. Barr. I am
delighted to report that the business
has made excellent progress in pursuit
of both its strategic objectives and its
short-term operating performance.
Overview
Following the challenges of the global pandemic we
had all hoped for a period of more stability and perhaps
some return to normality, however the tragic events in
Ukraine have led directly to a significant level of human
suffering and we have all felt a sense of collective grief.
We have also seen the rise of global economic
uncertainty, rampant inflation and the resultant cost
of living crisis impacting consumers and businesses.
Against this difficult backdrop the whole team across
the A.G. Barr Group has delivered an excellent
performance. Reported revenue grew by 18.2%
year-on-year and we finished the year with adjusted
profit before tax* of £43.5m, 13.3% ahead of the
prior year.
Highlights during the year included:
• Strong growth across our soft drinks portfolio
as consumers return to more established
purchasing patterns, post pandemic
• Innovation and growth in cocktails across all
channels as FUNKIN consolidated its position as the
Number 1 cocktail brand in the UK take home market
• The strength of our balance sheet, our clear strategy
and scalable business model have supported the
exciting acquisition of Boost Drinks and the early
completion of our planned acquisition of the
remaining equity in MOMA Foods
The entire A.G. Barr team has remained focused on
delivering our brand building strategy, investing for
growth and creating a business we are proud of.
Dividend
The Board is pleased to maintain its progressive
dividend policy and recommends a final dividend
of 10.6p per share to give a proposed total dividend
for the full year of 13.1p per share. The final dividend
is payable on 9 June 2023 to shareholders on the
Register of Members at the close of business on
12 May 2023. The ex-dividend date is 11 May 2023.
Mark Allen OBE
Chair
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