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Annual Results

AG Barr hikes divi as profits rise

28 March 2017 07:22

Soft drinks group AG Barr's statutory profit before tax increased by 4.4% in the 52 weeks to 28 January to £43.1m (2016: £41.3m) on revenue of £257.1m (2016: £258.6m).

Profit before tax and exceptional items increased by 2.7% to £42.4m (2016: £41.3m) while underlying revenue rose by 1.5% to £257.1m (2016: £253.2m).

The proposed final dividend of 10.87p per share (2016: 9.97p) would give a proposed total dividend for the year of 14.40p per share, an increase of 8.0% over the prior year.

Chief executive Roger White said "We have made considerable progress across the business over the last 12 months and delivered a solid financial performance in volatile and uncertain market conditions.

"As consumer tastes and preferences continue to change, our recent announcement that 90% of company owned brands will contain less than 5g of total sugars per 100ml by the autumn of 2017 is a positive demonstration of how the business is responding to consumers' needs with both pace and commitment.

"The UK consumer environment remains uncertain, however we are confident that our great brands, effective business model, clear strategy and strong team ensure we are well placed to realise the full potential of our business and to deliver consistent long-term shareholder value."

Story provided by StockMarketWire.com

Related Company: BAG

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