FDBusiness.com

Profits Fall at C&C Group

 Breaking News
  • Ferrero to Acquire US Confectionery Company Ferrero Group is acquiring Ferrara Candy Company, the third largest non-chocolate confectionery company in the US, from L Catterton, the biggest and most globally consumer-focused private equity firm in the world. The terms of the transaction were not disclosed. Ferrara is best known as the maker of iconic brands such as Trolli, a leader in [...]...
  • Shift to Sustainable Food System in Europe is Possible – But Faces Challenges Making Europe’s production, consumption and trade in food environmentally sustainable is possible, but it will require a major shift in public attitudes, policies and knowledge and seizing current opportunities for change, according to a newly published European Environment Agency (EEA) report. The EEA report ‘Food in a green light,’ analyses the challenges Europe faces in shifting [...]...
  • Pet Food Producer Achieves 30% OEE Improvement and Brand Security With OAL Connected Wagg Foods, a leading producer of high-quality pet food, has increased its OEE efficiency by 30%, secured its packaging lines from errors and ensured full compliance with retailers’ code of practice with OAL Connected, a modular suite of packaging line software. Known for its laser-focus on quality, nutrition and product development, Wagg Foods prides itself on [...]...
  • Thirsty Business – How Water Reuse Can Benefit the Food and Beverage Industry By Martin Kunz, EMEA Segment Leader, Industry for Xylem’s Applied Water Systems business Only 2.5 percent of the world’s water is fresh water, and of that, only one percent is accessible as much is trapped in glaciers and snowfields. By one estimate, global fresh water demand will exceed supply by 40 percent in 2030 if current [...]...
  • Hilton Food Group to Move into UK Fish Processing Hilton Food Group, the UK-based specialist international meat packing business, has agreed to acquire Icelandic Group UK (Seachill), a leading chilled UK fish processor, for cash consideration of £80.8 million. The acquisition will provide Hilton with entry into the processing and supply of fish in the UK. Robert Watson OBE, chief executive of Hilton Food Group. Founded [...]...

Profits Fall at C&C Group

Profits Fall at C&C Group
May 14
14:31 2015

C&C Group has reported a 9.2% decline in operating profit to €115 million for the year ended 28 February 2015 from net revenue up 10.3% to €683.9 million as the Irish and UK manufacturer, marketer and distributor of branded cider, beer, wine and soft drinks battled against the tough trading environment.

C&C Group did achieve a solid performance in its core segments of Ireland and Scotland with operating profit growth of 1.5% and 1.8% respectively. However, its business in England and Wales (C&C Brands) and its North America operations both saw profits fall. A one off impairment charge of €150 million to US asset value also impacted on profits.

“Our core businesses in Ireland and Scotland, which represent 86% of operating profit, delivered modest earnings growth during the year. During the course of FY2015, we continued to make progress towards our objective of building leading brand-led distribution businesses in both of these regions. This model reinforces the sustainability of our earnings and cash generation capability which, in turn, drives our ability to create and sustain value for shareholders,” comments Stephen Glancey, chief executive of C&C Group.”

He adds: “Outside of our core segments, we have been restructuring and investing behind our market positions and brands to drive performance. During the year, we have consolidated our C&C Brands business; accelerated our product investment and development in the US; and, made exciting progress in new international markets.”

About Author

mike

mike

Related Articles



Food & Drink Business Conference & Exhibition 2016

Upcoming Events

  • October 19, 2017PMA Fresh Summit 2017
  • October 21, 2017Food & Nutrition Conference & Expo 2017
  • October 22, 2017Serbotel
  • October 22, 2017Natexpo
AEC v1.0.4

find food jobs

The Magazine

F&D Business Preferred Suppliers

New Subscriber





Subscribe Here



Advertisements