A G BARR p l c : Annual Report and Accounts FY22/23

Annual report and accounts 2023

Introduction

A.G. Barr is a UK-based branded multi beverage business focused on growth and the creation of long-term shareholder value.

Ambitious and value driven, with strong consumer focus, we are brand owners and builders, offering a diverse and differentiated portfolio of brands that people love.

Established over 145 years ago in Scotland, now operating across the UK and with export markets throughout the world, we strive to grow our business both organically and through targeted acquisition.

Employing over 1,000 people across four business units and ten UK locations, we are proud to be a responsible business that listens to our consumers, builds lasting customer relationships, takes care of our people, values diversity, gives something back to our communities and works to minimise our environmental impact.

Our locations

Offices

Cumbernauld - Head Office; Bolton (Barr Soft

Drinks); Camden (FUNKIN); Deptford (MOMA);

Leeds (Boost)

Barr Soft Drinks

Factories

Cumbernauld; Milton Keynes; Forfar

Distribution centres

Cumbernauld; Milton Keynes

Distribution depots

Dagenham; Moston; Wednesbury

For more information visit our website agbarr.co.uk 

Strategic Report

Purpose, values and culture

Our purpose is:

To create value, with values - for our shareholders, consumers, customers and for society as a whole

We do this by:

Building great brands

Corporate Governance Accounts

In this report

Strategic Report

Purpose, values and culture	1
2023 highlights	2
Our investment case	3
Our business and brands	4
Chair's introduction	6
Our business model	8
Our strategy	10
Financial key performance indicators	11
Chief Executive's review	12
Our strategy in action	18
Responsibility report	30
Non-financial key performance indicators	32
Financial review	56
Risk management	62

Our business purpose has always been underpinned by strong values. We believe that how we act reflects who and what we are. We strive to behave responsibly across our four core values:

For over 145 years we have developed

1. positive, results-driven and supportive culture. As we grow our business organically and through acquisition,
   it is important that we retain the entrepreneurial spirit of the new and exciting additions to our Group, while also ensuring that we continue to value and nurture the unique essence of what makes A.G. Barr a great business to be part of.

For more information on our people, culture

and employee values see pages 34 to 38 

Acting with integrity

Respecting the environment

Corporate Governance

Board of Directors	70
Corporate Governance Report	72
Audit and Risk Committee Report	85
Directors' Remuneration Report	89
Directors' Report	122
Statement of Directors' Responsibilities	128

Accounts

Independent Auditor's Report to the
members of A.G. BARR p.l.c.	129
Consolidated Income Statement	138
Statements of Financial Position	139
Statement of Comprehensive Income	140
Statement of Changes in Equity	141
Cash Flow Statements	143
Notes to the Accounts	144
Glossary	199
Reconciliation of Non-GAAP Measures	201
Notice of Annual General Meeting	205

Corporate Governance

Supporting	Giving back
healthy living

Our section 172(1) statement describing how the directors have had regard to the matters set out in section 172(1)(a) to (f) when performing their duties under section 172 of the Companies Act 2006 is set out in the Corporate Governance Report on pages 60 to 71 and is incorporated by reference into this Strategic Report.

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A.G. BARR p.l.c.  Annual Report and Accounts 2023

2023 highlights

RevenueAdjusted profit before tax*Employee engagement

£317.6m	£43.5m	75%
+18.2%	+13.3%
			Acquisitions
Basic earnings per share (EPS)	Full year dividend*		during the year
30.47p	13.1p	2
+21.4%			Boost drinks and MOMA.
	No Time To Waste Environmental
Women in Leadership	Sustainability Programme
38%	100%
	Science-based targets approved
	and our first 100% recycled plastic
	bottles in market.

For more information on our Non-financial KPIs see page 32 

* 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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Strategic Report

Corporate Governance

Accounts

Our investment case

01	02	03
Ambitious with	Strong core brands with	Clear growth
value-driven strategy	challenger mentality	opportunities
04	05	06
Disciplined	Responsible	Financial
capital allocation	and sustainable	strength

F I N D O U T M O R E A B O U T O U R CO M P E T I T I V E A DVA N TAG E S

Our business model can be found

on pages 8 and 9

Why

invest

in us?

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