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A.G. BARR (BAG) investor relations material
A.G. BARR H1 26/27 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
H1 revenue rose 8.5% to £247.4m, outpacing the UK soft drinks market, supported by core-brand momentum and acquisitions.
Temporary supply constraints caused an estimated £10m in lost sales; issues were resolved and service metrics normalized.
Adjusted PBT increased 2.6% to £36.1m; statutory PBT fell 3.7% to £33.9m, reflecting adjusting items.
Fentimans and Frobishers integration was completed, with synergies expected in H2.
Interim dividend increased 11% to 3.82p per share.
Financial highlights
Revenue increased 8.5% to £247.4m; like-for-like growth was broadly flat, with underlying growth estimated at 4%-5% excluding the supply impact.
Adjusted operating margin held at 15.0%; statutory operating margin was 14.1%.
Gross margin declined 140bps to 40.8%, reflecting acquisition dilution and service-recovery actions.
Adjusted EPS rose 0.4% to 24.99p; statutory EPS fell 4.3% to 23.82p.
Net bank debt was £47.0m at period end, reflecting acquisitions and capital investment.
Outlook and guidance
FY revenue growth forecast at ~10%, with adjusted operating margin of ~15%; adjusted PBT expected at £71.5m, in line with market expectations.
H2 expected to deliver higher revenue and profit growth, supported by resolved supply constraints and acquisition synergies.
Year-end net bank debt forecast at £10m-£20m; cash CapEx at ~£40m and adjusting costs at ~£3m.
FY operating margin expected slightly above H1; ROCE forecast near 19%, at the lower end of the 19%-21% target range.
Medium-term targets reaffirmed: revenue growth of at least 4%, operating margin of 14%-16%, and ROCE of 19%-21%.
- H1 revenue up 8% to £246m, with double-digit full-year growth and profit guidance maintained.BAG
Trading update - Low double-digit revenue growth expected in FY 2026-2027, driven by acquisitions and innovation.BAG
H2 25/26 - Double-digit profit growth and strategic acquisitions fuel momentum for the coming year.BAG
H2 25/26 TU - Revenue and profit rose, margins expanded, and strategic acquisitions drove growth.BAG
H1 25/26 - Revenue up 3% to £228m, margin improved, and outlook remains strong.BAG
Q1 25/26 TU - Revenue and adjusted profit up, margins improved, and outlook strong for H2.BAG
H1 24/25 - Revenue up 5% to £221m, with margin rebuild and FY guidance on track.BAG
Trading Update - A.G. BARR forecasts robust revenue and profit growth, driven by strong brands and margin gains.BAG
Trading Update - Revenue and profit growth driven by strong brands and operational efficiency.BAG
H2 2025
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