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olivLaw · European equity research

A.G. BARR p.l.c. BAG.L

United Kingdom · London Stock Exchange · ISIN GB00B6XZKY75 · Vertical: Listed companies from United Kingdom

6.03GBP0.00% · 1 dayClose 05 Nov 2026

A.G. Barr is a UK soft drinks company with more than 150 years of history, whose brand portfolio, led by IRN-BRU, generates the majority of its revenue, with most products made in its own sites. In fiscal 2025/26 the company raised its total dividend by 11.0%, and it now focuses on integrating recent acquisitions, which makes the evolution of margins and growth a point of attention.

At the close of 05 Nov 2026, A.G. BARR p.l.c. (BAG.L) stock was 6.03 GBP (+0.00% on the day), with market capitalisation 671.9 m GBP, P/E 14.4 on diluted EPS of 0.42 GBP over the last 12 months, dividend yield 2.86%, beta 0.16, 52-week range 5.42–7.08 GBP.

Data as of · AI analysis dated · Source: ESEF annual reports and closing prices, computed by olivLaw.

Market cap
671.9 m GBP
shares as of 31 Jan 2026
P/E (TTM)
14.4
Diluted EPS TTM 0.42 · TTM to 31 Jan 2026
E/P (TTM)
6.93%
TTM to 31 Jan 2026
Dividend yield
2.86%
DPS 12m 0.17
Beta (2y)
0.16
Volatility (1y) 22%
52-week range
5.427.08

Price history

Loading chart…

Technical reading

RSI (14)
66.2
strong (55–70)
Bollinger (20, 2)
5.45 – 6.05
in the upper half of the band · %B 0.97 · band width 10.3%
SMA 50 / 200
5.83 / 6.25
mixed trend
MACD (12, 26, 9)
0.05 / 0.00
MACD above signal

Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).

Performance

CompanyEURO STOXX 50vs EURO STOXX 50Vertical median
1 month+8.1%+0.4%+7.7 pp—
3 months−1.1%−3.3%+2.1 pp—
6 months−2.6%+4.0%−6.5 pp—
Year to date−3.4%+8.1%−11.5 pp—
1 year−10.8%+10.7%−21.5 pp+7.3%
3 years+18.5%+50.1%−31.6 pp+23.3%
5 years+22.1%+43.6%−21.5 pp—
Max drawdown (1y)
−23.4%
23 Feb 2026 → 02 Oct 2026
Max drawdown (5y)
−26.5%
03 May 2022 → 21 Oct 2022
Compound annual growth (5y)
+4.1%
EURO STOXX 50 +7.5%

Price returns, dividends excluded.

Quarterly results

ESEF annual reports carry no quarters: the results are annual (below).

E/P over time

E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.

Today's P/E sits at the 0 percentile of its own 3-quarter history (min 15.3, median 16.1, max 16.3; quarters with earnings only).

Fiscal years

Fiscal year202420252026
Revenue400.0 m420.4 m437.3 m
Revenue YoYunavailable+5.1%+4.0%
Net income38.5 m39.7 m47.1 m
Net income YoYunavailable+3.1%+18.6%
Diluted EPS0.340.350.42
Diluted EPS YoYunavailable+3.5%+18.0%
net %9.6%9.4%10.8%
Free cash flow30.7 m29.1 m20.6 m

Balance sheet & financial health

Fiscal year 2026 · 31 Jan 2026

Cash
61.4 m GBP
Financial debt
40.0 m GBP
Net debt
-21.4 m GBP
Equity
345.6 m GBP
Total assets
514.2 m GBP
Debt / equity
0.12x
Current ratio
1.67x
ROE
14.2%
ROA
9.9%
FCF margin
4.7%

Financial statements (source on every figure)

Revenue and net income (GBP)

Margins

Income statement · GBP

Revenue
2024
400.0 m
2025
420.4 m
2026
437.3 m

esef· 22 Apr 2026verified

Cost of revenue
2024
245.8 m
2025
256.1 m
2026
260.0 m

esef· 22 Apr 2026verified

Gross profit
2024
154.2 m
2025
164.3 m
2026
177.3 m

esef· 22 Apr 2026verified

Operating income
2024
50.1 m
2025
51.7 m
2026
61.6 m

esef· 22 Apr 2026verified

Interest expense
2024
200.0 k
2025
500.0 k
2026
700.0 k

esef· 22 Apr 2026verified

Pre-tax income
2024
51.3 m
2025
53.2 m
2026
62.6 m

esef· 22 Apr 2026verified

Income tax
2024
12.8 m
2025
13.5 m
2026
15.9 m

esef· 22 Apr 2026verified

Net income
2024
38.5 m
2025
39.7 m
2026
47.1 m

esef· 22 Apr 2026verified

Diluted EPS
2024
0.34
2025
0.35
2026
0.42

esef· 22 Apr 2026verified

Dividend per share
2024
0.13
2025
0.16
2026
0.17

esef· 22 Apr 2026derived

Balance sheet · GBP

Cash
2024
33.6 m
2025
21.4 m
2026
61.4 m

esef· 22 Apr 2026verified

Receivables
2024
63.8 m
2025
76.8 m
2026
82.2 m

esef· 22 Apr 2026verified

Inventories
2024
36.5 m
2025
31.7 m
2026
31.7 m

esef· 22 Apr 2026verified

Current assets
2024
153.9 m
2025
173.9 m
2026
196.3 m

esef· 22 Apr 2026verified

Property, plant & equipment, net
2024
109.0 m
2025
118.0 m
2026
145.6 m

esef· 22 Apr 2026verified

Total assets
2024
401.7 m
2025
432.9 m
2026
514.2 m

esef· 22 Apr 2026verified

Short-term debt
2024
—
2025
0
2026
40.0 m

esef· 22 Apr 2026verified

Current liabilities
2024
73.6 m
2025
76.4 m
2026
117.7 m

esef· 22 Apr 2026verified

Equity
2024
292.7 m
2025
317.6 m
2026
345.6 m

esef· 22 Apr 2026verified

Shares outstanding at year end
2024
111.3 m
2025
110.9 m
2026
111.4 m

esef· 22 Apr 2026derived

Cash flow · GBP

Operating cash flow
2024
48.5 m
2025
48.3 m
2026
51.0 m

esef· 22 Apr 2026verified

Capex
2024
17.8 m
2025
19.2 m
2026
30.4 m

esef· 22 Apr 2026verified

Free cash flow
2024
30.7 m ≈
2025
29.1 m ≈
2026
20.6 m ≈

esef· 22 Apr 2026derived

Investing cash flow
2024
-8.1 m
2025
-39.3 m
2026
-23.3 m

esef· 22 Apr 2026verified

Financing cash flow
2024
-19.7 m
2025
-21.2 m
2026
12.3 m

esef· 22 Apr 2026verified

Dividends paid
2024
14.7 m
2025
17.2 m
2026
19.2 m

esef· 22 Apr 2026verified

Computed indicators

Growth

Revenue growth (YoY)
4.0%
computed by olivLawFY 2026
Revenue CAGR 3Y
unavailable
input data missing
Revenue CAGR 5Y
unavailable
input data missing
EBIT growth (YoY)
19.1%
computed by olivLawFY 2026
Net income growth (YoY)
18.6%
computed by olivLawFY 2026
Net income CAGR 3Y
unavailable
input data missing
Net income CAGR 5Y
unavailable
input data missing
EPS growth (YoY)
18.0%
computed by olivLawFY 2026
EPS CAGR 3Y
unavailable
input data missing
EPS CAGR 5Y
unavailable
input data missing
FCF growth (YoY)
-29.2%
computed by olivLawFY 2026

Profitability

Gross margin
40.5%
computed by olivLawFY 2026
EBITDA margin
unavailable
input data missing
EBIT margin
14.1%
computed by olivLawFY 2026
Net margin
10.8%
computed by olivLawFY 2026
FCF margin
4.7%
computed by olivLawFY 2026

Returns

ROE
14.4%
computed by olivLawFY 2026 · balance sheet at 31 Jan 2026
ROA
9.9%
computed by olivLawFY 2026 · balance sheet at 31 Jan 2026
ROIC
14.8%
computed by olivLawFY 2026 · balance sheet at 31 Jan 2026
ROCE
15.5%
computed by olivLawFY 2026 · balance sheet at 31 Jan 2026
Payout ratio (EPS)
41.2%
computed by olivLawFY 2026
Payout ratio (FCF)
93.2%
computed by olivLawFY 2026

Balance sheet

Net debt
-21.4 m GBP
computed by olivLawbalance sheet at 31 Jan 2026
Net debt / EBITDA
unavailable
input data missing
Debt / equity
0.1x
computed by olivLawbalance sheet at 31 Jan 2026
Interest coverage
88.0x
computed by olivLawFY 2026

Liquidity

Current ratio
1.7x
computed by olivLawbalance sheet at 31 Jan 2026
Quick ratio
1.4x
computed by olivLawbalance sheet at 31 Jan 2026
Cash ratio
0.5x
computed by olivLawbalance sheet at 31 Jan 2026

Cash

Operating cash flow
51.0 m GBP
computed by olivLawFY 2026
Capital expenditure
30.4 m GBP
computed by olivLawFY 2026
Free cash flow
20.6 m GBP
computed by olivLawFY 2026
FCF conversion
43.7%
computed by olivLawFY 2026
Cash conversion
unavailable
input data missing

Efficiency

Days sales outstanding
66 days
computed by olivLawFY 2026 · balance sheet at 31 Jan 2026
Days inventory outstanding
45 days
computed by olivLawFY 2026 · balance sheet at 31 Jan 2026
Days payables outstanding
unavailable
input data missing
Cash conversion cycle
unavailable
input data missing

Market and valuation

Market capitalisation
671.9 m GBP
computed by olivLawbalance sheet at 31 Jan 2026
Enterprise value
650.5 m GBP
computed by olivLawbalance sheet at 31 Jan 2026
Market cap / net income TTM
14.3x
computed by olivLawFY 2026
P/E (TTM)
14.4x
computed by olivLawFY 2026
Earnings yield
6.9%
computed by olivLawFY 2026
P/B
2.0x
computed by olivLawbalance sheet at 31 Jan 2026
P/S
1.5x
computed by olivLawFY 2026 · balance sheet at 31 Jan 2026
EV/EBITDA
unavailable
input data missing
EV/EBIT
10.6x
computed by olivLawFY 2026 · balance sheet at 31 Jan 2026
EV/Sales
1.5x
computed by olivLawFY 2026 · balance sheet at 31 Jan 2026
P/FCF
32.6x
computed by olivLawFY 2026 · balance sheet at 31 Jan 2026
FCF yield
3.1%
computed by olivLawFY 2026 · balance sheet at 31 Jan 2026
Dividend yield
2.9%
computed by olivLawFY 2026
Shareholder yield (distributions)
2.9%
computed by olivLawFY 2026 · balance sheet at 31 Jan 2026

1 indicators that do not apply to the sector.

Valuation

olivLaw classification

Unattractive profile

Score: 52 / 100

A scoring methodology on indicators and valuation, not investment advice.

(margin_of_safety <= -0.25 & agreement in ['high', 'medium'])

Closing price

6.03 GBP

05 Nov 2026Source: olivLaw, closing series

Market cap: 671.9 m GBP

Key indicators

Market capitalisation
671.9 m GBP
computed by olivLawbalance sheet at 31 Jan 2026
P/E (TTM)
14.4x
computed by olivLawFY 2026
P/B
2.0x
computed by olivLawbalance sheet at 31 Jan 2026
EV/EBITDA
unavailable
input data missing
ROE
14.4%
computed by olivLawFY 2026 · balance sheet at 31 Jan 2026
Net margin
10.8%
computed by olivLawFY 2026
Revenue growth (YoY)
4.0%
computed by olivLawFY 2026
Dividend yield
2.9%
computed by olivLawFY 2026

Coverage and freshness

26/37 reporting lines present
Latest full fiscal year: 2026
Latest reported period: 31 Jan 2026
Latest balance sheet date: 31 Jan 2026
Share count (cover of the latest filing), as of: 31 Jan 2026
Source: esefpublished 22 Apr 2026
verified 79derived 4

Score by group

  • Quality44
  • Returns40
  • Balance sheet89
  • Valuation48

Estimated value range

unavailable — no valuation assumptions for the reporting currency

Valuation assumptions are editorial choices, not measured; beta is not measured.

Valuation methods

    Assumptions (illustrative, editorial)

    Risk-free rate
    6.5%
    Equity risk premium
    6.0%
    Beta (default)
    1.00
    Cost of equity
    12.5%
    Terminal growth
    3.0%

    Factor scorecard

    Unattractive profile · Score 52/100

    FactorValueScoreWeight used
    ROIC · Quality14.8%54 (vs peers)17%
    Net margin · Quality10.8%51 (vs peers)10%
    FCF conversion · Quality43.7%20 (on a fixed band)10%
    Revenue CAGR 3Y · Growthunavailableunavailable—
    EPS CAGR 3Y · Growthunavailableunavailable—
    Net debt / EBITDA · Balance sheetunavailableunavailable—
    Interest coverage · Balance sheet88.0x100 (on a fixed band)10%
    Current ratio · Balance sheet1.7x72 (on a fixed band)7%
    P/E (TTM) · Valuation14.4x56 (vs peers)17%
    EV/EBITDA · Valuationunavailableunavailable—
    FCF yield · Valuation3.1%38 (on a fixed band)13%
    Shareholder yield (distributions) · Returns2.9%41 (on a fixed band)10%
    Payout ratio (FCF) · Returns93.2%38 (on a fixed band)7%

    Factors without a value were dropped; the remaining weights were renormalised.

    Score groups

    • Balance sheet89/100 · 2/3 factors with a value
    • Growth· partialunavailable · 0/2 factors with a value
    • Quality44/100 · 3/3 factors with a value
    • Returns40/100 · 2/2 factors with a value
    • Valuation48/100 · 2/3 factors with a value

    A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.

    Memo

    A.G. BARR P.L.C. (BAG.L). Latest full fiscal year: 2026; data up to 2026-01-31.

    Figures computed from the financial statements: revenue 437.3 m GBP in 2026; YoY growth 4.0%; net margin 10.8%; ROE 14.4%.

    The estimated value range is 2.10–2.77 GBP per share (median of 3 methods, agreement: medium); assumptions are illustrative. Against the central value of 2.38 GBP, the price of 6.03 GBP leaves a potential of -60.5% (value / price − 1) and a margin of safety of -153.5% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.

    olivLaw score 52/100, methodological classification: unattractive profile (score, margin of safety and method agreement together; not a judgement of the right price). Groups assessed only in part: growth. Not investment advice.

    Text generated deterministically from the figures shown; no language model. Not investment advice.

    What supports the thesis

    • Interest coverage: 88.0x
    • Current ratio: 1.7x

    What contradicts it

    • FCF conversion: 43.7%
    • The price is above the estimated value range

    Not assessed (insufficient data or a ratio without meaning): Revenue CAGR 3Y, EPS CAGR 3Y, Net debt / EBITDA, EV/EBITDA.

    Versus the vertical median

    Listed companies from United Kingdom · same country · compared with 39 companies

    Multiples and returns vs the median

    P/E
    14.4x
    vertical median 16.3x
    below median (−11.3%)
    EV/EBITDA
    —
    vertical median —
    P/S
    1.5x
    vertical median 1.5x
    at median
    P/B
    2.0x
    vertical median 2.2x
    below median (−8.0%)
    ROE
    14.4%
    vertical median 13.4%
    above median (+7.2%)
    Net margin
    10.8%
    vertical median 10.6%
    at median
    EBIT margin
    14.1%
    vertical median 22.9%
    below median (−38.6%)
    Revenue YoY
    4.0%
    vertical median 7.9%
    below median (−49.0%)
    Net debt/EBITDA
    —
    vertical median —
    Dividend yield
    2.9%
    vertical median 2.7%
    above median (+6.9%)

    Price rebased to 100 (monthly, 5 years)

    Companies in the vertical

    Market capP/EROENet marginRevenue YoY1A / 3A
    BATS.LBritish American Tobacco P.L.C.104.3 bn13.516.5%30.3%−1.0%+7% / +88%
    ABF.LAssociated British Foods PLC14.7 bn14.39.2%5.3%−3.1%−5% / −15%
    0EV1.LCarnival PLC5.5 bn4.146.7%13.4%+6.4%unavailable / unavailable
    BAB.LBabcock International Group PLC5.1 bn24.734.7%4.1%+7.2%−10% / +158%
    AUTO.LAutotrader Group PLC4.8 bn16.460.2%47.1%+3.9%−13% / −23%
    BBY.LBalfour Beatty PLC4.2 bn16.323.2%2.8%+15.2%+20% / +160%
    ABDN.LAberdeen Group PLC4.1 bn10.88.0%28.9%−2.1%+11% / +41%
    BKG.LThe Berkeley Group Holdings PLC3.6 bn11.38.8%13.4%−4.2%−0% / −22%
    BME.LB&M European Value Retail PLC2.9 bn17.421.2%2.8%+3.7%+68% / −51%
    AJB.LAj Bell PLC2.4 bn22.849.9%33.1%+18.0%+8% / +128%
    ASHM.LAshmore Group PLC1.4 bn13.913.1%71.6%−0.1%+28% / +18%
    BCG.LBaltic Classifieds Group PLC1.2 bn23.215.8%57.6%+6.9%−99% / −99%
    APN.LApplied Nutrition PLC763.6 m36.241.2%19.7%+24.2%+71% / unavailable
    BAG.LA.G. Barr P.L.C.671.9 m14.414.4%10.8%+4.0%−7% / +26%
    ASC.LAsos PLC494.5 m—-81.3%-12.0%−14.7%+71% / +8%
    ALFA.LAlfa Financial Software Holdings PLC486.8 m16.361.5%23.8%+15.3%−28% / +10%
    AML.LAston Martin Lagonda Global Holdings PLC344.3 m—-93.4%-39.2%−20.6%−45% / −85%
    APTD.LAptitude Software Group PLC111.3 m28.57.2%6.2%−7.3%−30% / −23%
    BMS.LBraemar PLC78.3 m39.22.7%1.7%−4.4%+13% / −11%
    AMGO.LAmigo Holdings PLC9.9 m———−81.9%+325% / +844%
    ASBE.LAssociated British Engineering PLC605.3 k—-19.1%—unavailableunavailable / unavailable
    AMIF.LAmicorp Fs (uk) PLC221.6 k0.127.5%9.1%+8.1%unavailable / unavailable
    AAF.LAirtel Africa PLC——24.1%10.6%+29.5%−7% / +164%
    AAL.LAnglo American PLC——-19.3%-20.2%+4.5%+30% / +76%
    ACG.LAcg Metals Limited——-80.3%-32.0%+134.8%+60% / +63%

    1- and 3-year price returns: for BAG.L from daily closes (the same as the performance table), for the other companies from month-end closes.

    olivLaw engine forecast

    The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.

    The engine has no published run for this company yet.

    Valuation scenarios (editable assumptions)

    Illustrative scenarios

    Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.

    Bear
    Allowed range: -50 … 50%
    Allowed range: -100 … 100%
    Allowed range: 0 … 100
    Allowed range: -10 … 20%
    Allowed range: 0 … 100%
    Base
    Allowed range: -50 … 50%
    Allowed range: -100 … 100%
    Allowed range: 0 … 100
    Allowed range: -10 … 20%
    Allowed range: 0 … 100%
    Bull
    Allowed range: -50 … 50%
    Allowed range: -100 … 100%
    Allowed range: 0 … 100
    Allowed range: -10 … 20%
    Allowed range: 0 … 100%
    Nothing is saved.

    Estimated price (GBP)

    Estimated priceBearBaseBull
    1 years
    3.59
    Total return -38% · Per year -38%
    6.34
    Total return 8% · Per year 8%
    9.56
    Total return 62% · Per year 62%
    3 years
    3.45
    Total return -36% · Per year -14%
    6.86
    Total return 23% · Per year 7%
    11.36
    Total return 100% · Per year 26%
    5 years
    3.31
    Total return -34% · Per year -8%
    7.43
    Total return 39% · Per year 7%
    13.50
    Total return 146% · Per year 20%
    What moves the 3-year price the most
    • Exit P/E± 1.72
    • Net margin± 1.20
    • Annual revenue growth± 0.99
    • Annual dilution± 0.10

    AI analysis

    AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.

    In brief

    A.G. Barr is a UK soft drinks company with more than 150 years of history, whose brand portfolio, led by IRN-BRU, generates the majority of its revenue, with most products made in its own sites. In fiscal 2025/26 the company raised its total dividend by 11.0% 1, and it now focuses on integrating recent acquisitions, which makes the evolution of margins and growth a point of attention.

    SWOT

    Strengths

    • A portfolio of UK brands with strong shares, particularly IRN-BRU, and a history of more than 150 years of brand recognition 1.
    • High in-house production and an integrated supply model that give control over cost and quality 1.
    • Stated financial discipline, with medium-term growth and margin targets and a dividend policy linked to performance 1.

    Weaknesses

    • A significant dependence on one brand, IRN-BRU, which contributes a large share of revenue and could make the company vulnerable to demand shifts 1.
    • Recent acquisitions could temporarily affect efficiency and profitability, and their integration is still under way 1.
    • Volumes were negatively affected in the short term by pricing decisions and commercial investment in fiscal 2025/26 1.

    Opportunities

    • Expansion into functional and premium non-alcoholic segments, where consumer demand is rising and the company already has brands 1.
    • Investment in production capacity and the Boost insourcing could reduce costs and extend the in-house range 1.
    • International expansion through a distributor-led model, reinforced by the Fentimans acquisition, could add revenue 1.

    Threats

    • Cost pressure from energy, ingredients and logistics, which could hit margins if it cannot be passed on through prices 1.
    • Tighter regulation on sugar and advertising, which could limit sales of some products 1.
    • Extreme weather and supply chain pressures, which could affect production and crop supply 1.

    Risks

    • ESG reputational riskmedium

      A negative perception of the company's environmental strategy by customers and consumers could affect brand trust, and the company has introduced a No Deforestation policy to mitigate this 1.

    • Raw material and energy costshigh

      Volatility in energy and ingredient costs could compress margins if prices cannot be adjusted in time 1.

    • Concentration on IRN-BRUmedium

      Dependence on one brand for a large share of revenue could amplify the impact of lower demand for that product 1.

    • Acquisition integrationmedium

      Integrating Innate-Essence, Frobishers and Fentimans could delay expected synergies and affect efficiency in the near term 1.

    • Sugar product regulationlow

      HFSS legislation and advertising restrictions could limit the visibility of some products in retail if they tighten 1.

    Investment thesis

    What would need to be true (bull case)

    • The company has a portfolio of UK brands with high recognition, and if demand for functional and premium non-alcoholic drinks keeps growing, this could support further growth 1.
    • In-house production and supply chain integration could lead to better margins if the factory investments and insourcing deliver the expected effects 1.
    • The dividend policy, with a reported increase in fiscal 2025/26, suggests the financial discipline the company says it maintains, which could support long-term investor confidence 1.

    What would break the thesis

    • If energy and ingredient costs stay volatile, margins could be compressed and the medium-term margin targets could be hard to reach 1.
    • Heavy dependence on IRN-BRU could make revenue vulnerable if demand for this brand falls or stronger competitors emerge 1.
    • Recent acquisitions could dilute efficiency in the short term, and management acknowledges they may affect profitability metrics 1.

    What to watch

    • Evolution of operating margin against the 14-16% target rangenext 10-K
    • Progress of the integration of Innate-Essence, Frobishers and Fentimans2027
    • Delivery of the 60% Scope 1 and 2 emissions reduction target by FY20302030
    • Timetable for the Boost insourcing, to be completed by the end of 20272027

    Products, market & competition

    AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.

    The business

    A.G. Barr p.l.c. is a UK soft drinks company that manages its brand portfolio from four hubs in the UK: Cumbernauld, Middlebrook (Bolton), Milton Keynes and London 1. The company says it produces over 80% of its soft drinks in-house 1 and states its purpose as 'building great brands, for everyone' 1. Its integrated model, with control over the supply chain and customer service, is described as a key differentiator 1. The core portfolio includes three core soft drinks brands, IRN-BRU, Rubicon and Boost, alongside challenger brands 1.

    In fiscal 2025/26 the company acquired Innate-Essence, Frobishers and Fentimans, expanding into functional hydration, premium non-alcoholic drinks and international distribution 1. According to the report, IRN-BRU accounts for 32% of total revenue, and the portfolio includes 16 brands 1. The group has around 1,000 employees 1.

    The company describes its strategy in five growth platforms introduced in fiscal 2025/26 1. The core brands receive most of the marketing investment, while supply chain efficiency, asset investment and channel execution are the operational priorities 1. Growth through acquisitions is used to diversify, but management warns that acquisitions can affect efficiency and profitability metrics in the short term 1.

    Segments

    Core soft drinks brands

    IRN-BRU, Rubicon and Boost are the company's main growth brands and receive most of the marketing investment 1. IRN-BRU accounts for 32% of total revenue 1. The company says these brands have significant headroom, and that growth will not be linear 1.

    Premium and functional brands

    Bundaberg, Fentimans and Frobishers are positioned for demand for premium non-alcoholic alternatives, while Innate-Essence brings functional hydration brands such as The Turmeric Co 1. The company says it is expanding distribution of these brands through its cross-channel approach 1. These segments are described as a growth direction rather than already dominant sources of revenue 1.

    Operations and manufacturing

    The company manufactures mainly at Cumbernauld and Milton Keynes and produces over 80% of its soft drinks in-house 1. Capacity and efficiency investments are described as part of a multi-year manufacturing programme 1. The company plans to insource the Boost Sport range in 2026 and complete the Boost insourcing by the end of 2027 1.

    Market context

    The company describes the UK soft drinks market as stable and resilient, a large and growing category with defensive characteristics as a low-cost everyday purchase 1. Changing dynamics include demand for functional drinks, premium non-alcoholic alternatives, sugar regulation (HFSS) and pressure from energy, ingredient and logistics costs 1.

    Management states that in fiscal 2025/26 the market remained resilient and that demand for trusted brands rose in periods of high cost of living 1. The company says its portfolio is already largely HFSS compliant, which could be an advantage if legislation tightens 1.

    Trends

    • Demand for functional drinkstailwind

      Consumers increasingly seek functional benefits such as energy and immunity, which could support the expansion of Rubicon and the functional acquisitions 1.

    • Premium non-alcoholic alternativestailwind

      Many adults are moderating alcohol intake, and demand for premium alternatives with a similar social experience is rising, which favours Bundaberg, Fentimans and Frobishers 1.

    • HFSS regulationmixed

      Tighter legislation on sugar and advertising is reshaping retail, and the company says its portfolio is already largely compliant, which could turn regulation into a driver of innovation 1.

    • Cost pressureheadwind

      Energy costs are volatile and ingredient and logistics costs remain high, pressuring industry margins; vertical integration and manufacturing investment are meant to mitigate this 1.

    Competitive position

    The sources analysed do not explicitly name the company's competitors; the report, however, describes a highly competitive market in which the company competes with other soft drinks and premium non-alcoholic brands 1. Pricing is adjusted to protect consumer trust and margins 1.

    The company's stated advantage rests on brands with UK recognition, in-house production and an integrated distribution model combining own channels and external logistics partners 1. The company says this model sets it apart from competitors, but it gives no quantitative comparison 1.

    • Other UK soft drinks producers

      The sources do not name specific competitors; the company refers only to highly competitive markets without details on rivals.

    • Premium non-alcoholic drinks producers

      The premium non-alcoholic segment is mentioned as an area of rising demand, without naming specific competitors.

    • Functional and hydration drinks brands

      The company extends its portfolio in this segment through acquisitions, but the sources do not identify specific competitors.

    • Food retailers and wholesale distributors

      Large retail and wholesale customers are described as key partners with price pressure, without names.

    News & filings

    In the press

    Annual reports (ESEF)

    Sources

    1. [1] Annual report, fiscal year ended 2026-01-31 (ESEF) · SEC / A.G. BARR p.l.c. · 31 Jan 2026

    Figures computed by olivLaw from ESEF annual reports and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.

    A.G. BARR p.l.c. (BAG.L): stock, results, valuation and forecast · olivLaw