DAVY VIEW

Following AG Barr’s H1-25 update we envisage limited changes to our current and medium-term forecasts. Given its strong execution to date and noting the added clarity provided around the rollout of its strategic initiatives, we remain confident in AG Barr’s long-term outlook. Its above market revenue growth and successful execution of its self-help measures are central to its long-term value creation (see “Raising the Barr”), with the recent pullback in its share price creating an attractive investment opportunity.