A.G. BARR FY22 Profit Rises, Lifts Dividend; Sees Growth Ahead; Robin Barr To Step Down From Board

A.G. BARR plc (BAG.L), a producer of drinks brands, including IRN-BRU, Rubicon and Funkin, Tuesday reported that its fiscal 2022 profit before tax grew 5.2 percent to 44.4 million pounds from last year’s 42.2 million pounds.

Earnings per share were 30.47 pence, up 21.4 percent from 25.09 pence in the prior year.

Adjusted profit before tax was 43.5 million pounds, compared to last year’s 38.4 million pounds.

Revenue for the year grew to 317.6 million pounds from prior year’s 268.6 million pounds. Revenue increased 18.2 percent on a reported basis and 15.9 percent on a like-for-like basis.

Further, the company said its Board recommends a final dividend of 10.6p per share to give a proposed total dividend for the full year of 13.1p per share, up from 12.0p per share last year. The final dividend is payable on June 9 to shareholders on the Register of Members at the close of business on May 12.

Looking ahead, the company noted that at this early stage, it remains confident of delivering further revenue and profit growth in the year ahead in line with management expectations.

Separately, A.G. BARR announced that Robin Barr has informed the Board of his decision not to seek Board re-election at the Annual General Meeting in May, after 62 years with the business.

Julie Barr will relinquish her company Secretarial duties and subject to shareholder approval will 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 AGM in May.

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