Annual report and accounts 2023 - Flipbook - Page 9
Strategic Report
Board
In the reporting period we said a fond farewell to John
Nicolson who I succeeded in the role of Chair in March
2022. It has been a pleasure to transition into the role
working alongside our diverse, experienced and
capable Board and management team.
Succession planning is an important Board
responsibility and with that in mind I can confirm that
after over 62 years with the business, Robin Barr has
informed me of his intention to step down from the
Board at the Annual General Meeting in 2023. Robin
epitomises all that is great in UK corporate leadership
– knowledge, honesty, balance, commitment and
capability, not to mention experience and a great sense
of humour. We will all miss Robin’s counsel and
camaraderie but after 58 years on the Board we can
understand his decision. I am delighted to announce
that Julie Barr will relinquish her Company Secretarial
duties to join the Board as a Non-Executive Director.
Julie, who has been with the Company for 19 years,
and is a qualified corporate lawyer, will stand for
election at the Annual General Meeting in May.
We will continue to seek to strengthen the capability,
diversity and experience of our Board as we grow and
develop the Company.
People and culture
I believe that A.G. Barr has a unique and positive culture
which although longstanding, is embodied, nurtured
and developed by the executive leadership team. With
high levels of colleague engagement across the Group,
each operating business has its own unique feel, but
are all connected by some shared A.G. Barr cultural
characteristics – a challenger mentality, a people first
approach and a drive for performance.
Prospects
There remain many headwinds to consider as we look
forward, however I am confident that the brand
momentum, quality and strategy of the business will
continue to deliver superior returns to shareholders for
many years to come.
*
Accounts
Creating value
Basic Earnings Per Share
Reported profit attributable to equity
holders divided by weighted average
number of shares in issue.
Whilst we have performed well as a Group, in these
challenging times we recognise that many of our team
are facing a period of difficulty and where possible we
have taken steps to support our colleagues. Where
appropriate we have tried to make our working patterns
as flexible as possible. We continue to provide mental
health support to those who want our help and made
two special cost of living payments during the course
of the year to those in our business who need it most.
We are equally as proud of our values and behaviours
as we are of our performance.
Responsibility
A.G. Barr has always put responsible behaviour at the
heart of its business and the last year has seen further
excellent progress across our core areas of focus.
Our environmental sustainability programme No Time
To Waste has continued to drive innovative thinking and
actions across a wide range of areas. We have now
agreed and validated our science-based targets as we
head towards our net-zero ambition. We have increased
our use of more sustainable packaging and are taking
a very active role in the run up to the launch of the
Deposit Return Scheme (DRS) in Scotland, planned for
August 2023.
Corporate Governance
2023
30.47p
2022
25.09p
+21.4%
Dividend
Total dividend declared for the full year
excluding any special dividend.
Mark Allen OBE
Chair
28 March 2023
2023
13.1p
2022
12.0p
+9.2%
Items marked with an asterisk are non-GAAP measures. Definitions and relevant
reconciliations are provided in the Glossary on pages 199 to 204.
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