FDBusiness.com

Strong First Half Performance by C&C Group

 Breaking News
  • Sweets and Snacks New Product Development Thrives on Adventure and Bite-size Trends With one in four global consumers increasing their consumption of confectionery over the past year (Innova Market Insights Consumer Survey, 2018) because “there is more variety & novelty available,” the food industry is responding. New data from Innova Market Insights finds a 15 percent average annual growth in global confectionery launches with a “discovery” claim [...]...
  • 80,000 Tonnes of Skimmed Milk Powder Sold in Biggest Tender A total of 80,424.05 tonnes of the skimmed milk powder bought into public stock by the European Commission since 2015 were sold in the latest tender sale, bringing the remaining stock to around 22,000 tonnes out of the original 380,000 tonnes, stockpiled since the crisis that hit the dairy sector in 2015. In effect, almost [...]...
  • Müller Rolls Out ‘Stealth’ Milk Caps Müller, Britain’s leading producer of branded and private label fresh milk, cream, butter and ingredients, is rolling out a new lightweight recyclable milk cap, which uses 13% less plastic material. The innovative solution allows the business to remove 300 tonnes of plastic every year, the equivalent weight of 231 million ‘stealth’ milk caps. The dairy company has [...]...
  • Greene King Announces New Chief Executive The board of Greene King has announced that Nick Mackenzie will join the board on 1st May 2019 as chief executive in succession to Rooney Anand. Nick Mackenzie will be joining from Merlin Entertainments where, as a member of the executive committee, he is responsible for the Midway portfolio of attractions, which comprises over 100 [...]...
  • Irish Grocery Market Hits Festive Record as Retailers Cash in on Christmas The Irish grocery market grew by an impressive 3.0% over the 12 weeks to 30 December, ensuring a record festive period for retailers. The latest Kantar Worldpanel data shows value sales reached €995 million in the month of December – the highest monthly total ever recorded in the Irish grocery market. This was driven by [...]...

Strong First Half Performance by C&C Group

Strong First Half Performance by C&C Group
October 30
09:34 2018

C&C Group has reported net revenue of €838.7 million and operating profit of €58.4 million, including the acquisitions of the Matthew Clark and Bibendum businesses in April 2018, for the six months ended 31 August 2018. On a constant currency basis, net revenue for existing C&C operations increased by 6.4% while operating profit rose by 4.0%.

Headquartered in Dublin, C&C Group produces and distributes branded beer, cider, wine, spirits, soft drinks and bottled water. C&C Group brands include: Bulmers the leading Irish cider brand; Tennent’s, the leading Scottish beer brand; Magners the premium international cider brand; as well as a range of superpremium and craft ciders and beers. C&C Group also owns and manufactures Woodchuck, a leading craft cider brand in the United States and manufactures and distributes a number of third party international beer brands in Scotland and Ireland. C&C is also a leading drinks wholesaler in the UK and Ireland, where it operates under the Matthew Clark, Bibendum, Tennent’s and C&C Gleeson brands. C&C Group has a minority investment in the Admiral Taverns tenanted pub group, which owns over 800 pubs across England and Wales.

Stephen Glancey, chief executive of C&C Group, comments: “Trading through the first six months has been strong driven by favourable summer weather and the impact of the World Cup. Encouragingly, our key brands have all delivered market share in their key markets and year on year revenue growth. In our core business, wholesale and wine also performed well with +11% revenue growth, shipping 0.56 million cases of wine a 2% increase from last year.”

He continues: “We are reporting revenue growth of 186% and earnings growth of 16%. This includes the recently acquired Matthew Clark and Bibendum businesses. Core earnings (excluding these acquisitions) were up 4.0% in the half. Since the acquisition of Matthew Clark and Bibendum our absolute focus has been the stabilisation of the businesses. By the end of September we settled £129 million of monies owed to suppliers, paid taxes owed of £31 million and collected £146 million of monies due from customers.”

About Author

mike

mike

Related Articles



Food & Drink Business Conference & Exhibition 2016

Upcoming Events

  • June 18, 2019Multimodal 2019
AEC v1.0.4

find food jobs

The Magazine

F&D Business Preferred Suppliers

New Subscriber

Subscribe Here



Advertisements