London, UK - A.G. Barr, the well-known drinks company behind brands such as IRN-BRU, Rubicon, and Funkin, has appointed Euan Sutherland as its new Chief Executive Officer, effective from May 1st. This news comes as the company expects to report a significant rise in revenue for its fiscal year.
Current CEO Roger White will step down at the end of April, as previously announced. A.G. Barr anticipates that its revenue for the 52 weeks ended January 28th will reach approximately £400 million ($507.5 million), showing growth of around 7.6% on a like-for-like basis compared with the previous year's figure of £317.6 million.
Additionally, adjusted pretax profit is expected to increase by 14%, reaching around £49.5 million, surpassing market expectations. Reported pretax profit is projected to be approximately £50.3 million, up from £44.4 million in the previous year.
Despite challenges posed by a wet summer, A.G. Barr's positive underlying brand momentum has ensured a strong performance in the second half of the fiscal year. Chief Executive Roger White expressed confidence in the company's long-term growth strategy, stating, "This strong trading performance, coupled with the benefits already being delivered by our margin rebuild program, has ensured we close the year with a strong profit performance."