FDBusiness.com

Robust Performance by C&C Group

 Breaking News
  • HKScan Strengthens its Meals Offering With Investment in Estonia HKScan, the leading Nordic food company, plans to invest in its Rakvere unit in Estonia. The €8 million investment will go towards modernising the unit’s frying department, including the expansion of the building and the installation of new cooking and packaging lines enabling implementation of new technologies and packaging solutions. Construction is to commence in [...]...
  • Food and Drink is at the Heart of the UK’s Largest Packaging Show Packaging Innovations, Empack and Label&Print returns to Birmingham’s NEC on 28 February-1 March 2018, and is set to be the most innovative show to date. With over 290 exhibitors already signed up, the UK’s largest annual event for the entire packaging supply chain will feature the latest industry innovations and technologies, alongside a major free-to-attend [...]...
  • AGRO Merchants Group Acquires Grocontinental AGRO Merchants Group, a global leader in cold storage and logistics solutions, announced today the acquisition of UK-based Grocontinental Limited. This transaction reinforces AGRO’s position as the leading cold storage and logistics provider in the United Kingdom and Ireland, deepens its commodity expertise, and substantially enhances its value-added service offerings for customers. David Grocott and Linda Grocott, third generation owners of [...]...
  • Trade Fair and More – The Event and Congress Programme For Anuga FoodTec 2018 Resource efficiency will be the primary focus of Anuga FoodTec 2018, the leading international supplier fair for the food and beverage industry, which will be held in Cologne, Germany from 20 to 23 March 2018. Around 1,700 suppliers from more than 50 countries will be presenting their new products for the production and packing of [...]...
  • TINE to Invest €77 Million in New Jarlsberg Plant in Ireland TINE, Norway’s largest farmer-owned dairy co-operative, is to invest €77 million in a dairy with the capacity to produce 20,000 tonnes of Jarlsberg cheese a year. The goal is to secure and strengthen Jarlsberg sales outside of Norway as export supports are phased out in 2020. This will make export of Jarlsberg from Norway unprofitable. “Jarlsberg [...]...

Robust Performance by C&C Group

Robust Performance by C&C Group
May 17
11:25 2012

C&C Group, the Irish and UK branded cider and beer business, has increased operating profit before exceptional items by 9% to Eur111.2 million for 2012, despite a 4.8% drop in net revenue to Eur480.8 million. Operating margins improved to 23.1% up 2.9 ppts reflecting the group’s strategic focus on driving brand value and greater operational efficiencies. This operating margin improvement was achieved without reducing the level of brand investment, with C&C Group continuing to invest approximately 13% of net revenue behind its key brands.

The Magners brand delivered positive volume and revenue growth in the competitive cider market in Great Britain and export volume growth of 28% principally driven by North American and Australian markets. The Tennent’s lager brand grew operating profits by 22.5% in the year; with Irish volumes rising by 64%.

Although group volumes declined 10.5%, the positive impact of brand mix reduced the net revenue decline to 4.8%, on a constant currency basis. Both the Republic of Ireland and GB markets experienced on-trade volume declines as consumer sentiment remained weak, while continued off-trade promotional activity and the challenge of new entrants resulted in another competitive year across the cider and beer categories.

Stephen Glancey, chief executive of C&C Group.

However, the group’s well invested brands and market positions enabled it to grow operating profits in the year supported by tight cost control and ongoing innovation. In addition, the group improved its operational efficiencies by securing new third party packaging contracts.

C&C Group has also continued to expand its international cider business during the year with the acquisition of the Hornsby’s brand in the United States and with the contracting of new distribution agreements in key markets for its core Magners brand.

“This has been a robust year for the group,” says Stephen Glancey, chief executive of C&C Group. “C&C is now a focused cider-led LAD business. While we remain cautious about the near term prospects of our core markets, the continuing global growth of the cider category, and C&C’s unique position within the sector, underscore our belief in the prospects of our business. C&C’s balance sheet strength and free cash flow characteristics will enable us to capitalise on organic and acquisition growth opportunities.”

About Author

mike

mike

Related Articles



Food & Drink Business Conference & Exhibition 2016

Upcoming Events

  • January 8, 2018RAI Exhibition
  • January 16, 2018Sival Plant Production Trade Show
  • January 17, 2018Dutch Organic Trade Fair
  • January 17, 2018Anfas Food Product
AEC v1.0.4

find food jobs

The Magazine

F&D Business Preferred Suppliers

New Subscriber





Subscribe Here



Advertisements