Irn-Bru maker AG Barr PLC soared on Tuesday after reporting a one-quarter jump in sales over the last year and pointing to stronger months ahead.
Revenue climbed 25.9% to £400 million over the year to January, the soft drinks specialist said, with the figure climbing 8% on a like-for-like basis.
Adjusted pre-tax profits rose ahead of industry expectations by 16.1% to £50.5 million on the back of this.
Outgoing chief executive Roger White signalled that reduced cost pressures on both the industry and consumers would likely bode well over the coming year.
“The outlook is certainly more settled from a price and cost point of view,” he said.
"The market underappreciates both the sales growth and margin recovery potential of the business," Liberum analysts commented, pointing to a material jump over the second half.
"There is potential for additional share buybacks, special dividends and further acquisitions due to the strong net cash position of around £54 million."
Indeed, AG Barr lifted its full-year dividend by 14.9% to 15.05p, compared to 13.10p in 2022.
Shares climbed 5.8% to 544p.