Strong brand momentum delivers volume and value growth at AG Barr

Soft drinks business AG Barr, whose portfolio includes IRN-BRU, Rubicon, FUNKIN and Boost, has reported strong revenue and profit growth for its fiscal year ended on 28 January 2024.

Revenue, including a full year contribution from the Boost portfolio, grew by 25.9 per cent year-on-year to touch £400 million, and the business finished the year with adjusted profit before tax of £50.5m, 16.1 per cent ahead of the prior year.

The group enjoyed strong revenue and volume growth across the soft drinks portfolio, with like-for-like revenue up 8 per cent.

Flagship brand IRN-BRU grew volume ahead of the market and delivered an 8 per cent increase in sales revenue. The Rubicon brand had an excellent year, with sales up 15 per cent, driven by growth across the full brand portfolio.

“I would like to take the opportunity to thank all of the teams across the group who have worked incredibly hard to deliver this excellent financial performance,” Roger White, chief executive, commented.

“With our business in a strong financial position, and our portfolio of differentiated brands poised for further growth, I have every confidence that our proven strategy, our results-driven teams and our well-invested asset base will continue to support long-term growth and value creation.”

AG Barr has successfully delivered year one of its margin rebuild programme, including an initial contribution from the first phase of Boost/Rio production in-sourcing, which commenced in November 2023.

The company acquired tropical drinks brand Rio in October last year, and last month, the group has announced plans to fully integrate the Boost business into Barr Soft Drinks, along with plans to change the route to market strategy in the symbols and independent retail channel.