C&C GROUP PLC: Trading Statement
18 Enero 2024 - 1:00AM
UK Regulatory
TIDMCCR
Trading Statement
Full year operating profit for FY2024 to be in line with current
market expectations
C&C Group plc ('C&C' or the 'Group'), owners of the
Tennent's, Magners and Bulmers Ireland brands, and Matthew Clark
and Bibendum Wine, today issues an update on recent trading
performance.
Trading over the key Christmas period was resilient despite some
adverse weather in GB. In the 10-month period to December 2023 the
Group's Branded Net Revenue is +6%(i) with Distribution Net Revenue
-3%(i) . Full year underlying operating profit for FY2024 is
expected to be in line with current market expectations.
Service levels, defined as On-Time-In-Full ('OTIF'), were
industry leading in the GB distribution business over the Christmas
trading period reflecting the Group's commitment to deliver market
leading customer service through GB's preeminent distribution
platform.
While current market conditions remain challenging, mitigating
inflationary impacts, improved operating efficiency, business
simplification, and gaining customers continue to be the Group's
operating priorities in the medium term. An update will be provided
as part of our full year results announcement later this year.
With increasing confidence in the medium-term outlook for the
business and its strong cash generation capabilities, the Board
reaffirms its intention to distribute up to EUR150million to
shareholders over the next three fiscal years while maintaining the
Group's leverage target of 1.5x to 2.0x.
C&C will issue full year FY2024 results in May 2024.
(i) Unaudited financials
ENDS
Contacts
C&C Group plc
Riona Heffernan, Group Finance & Investor Relations
Director
Email: riona.heffernan@candcgroup.com
Investors, Analysts & Media
FTI Consulting
Jonathan Neilan / Paddy Berkery / Aline Oliveira
Tel: +353 86 231 4135 / +353 86 602 5988 / +353 83 833 1644
Email: CandCGroup@fticonsulting.com
About C&C Group plc
C&C Group plc is a leading, vertically integrated premium
drinks company which manufactures, markets and distributes branded
beer, cider, wine, spirits, and soft drinks across the UK and
Ireland.
-- C&C Group's portfolio of owned/exclusive 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 fast-growing, premium and craft ciders and
beers, such as Heverlee, Menabrea, Five Lamps and Orchard Pig.
C&C exports its Magners and Tennent's brands to over 40
countries worldwide.
-- C&C Group has owned brand and contract
manufacturing/packing operations in Co.Tipperary, Ireland and
Glasgow, Scotland.
-- C&C is the No.1 drinks distributor to the UK and Ireland
hospitality sectors. Operating through the Matthew Clark, Bibendum,
Tennent's and Bulmers Ireland brands, the Group has a market
leading range, scale and reach including an intimate understanding
of the markets it serves. Together this provides a key
route-to-market for major international beverage companies.
C&C Group is a FTSE 250 company headquartered in Dublin and
is listed on the London Stock Exchange.
Note regarding forward-looking statements
This announcement includes forward-looking statements, including
statements concerning current expectations about future financial
performance and economic and market conditions which C&C
believes are reasonable. However, these statements are neither
promises nor guarantees, but are subject to risks and
uncertainties, including those factors discussed in our FY2023
Annual Report that could cause actual results to differ materially
from those anticipated.
View source version on businesswire.com:
https://www.businesswire.com/news/home/20240117586990/en/
CONTACT:
C&C Group PLC
SOURCE: C&C Group PLC
Copyright Business Wire 2024
(END) Dow Jones Newswires
January 18, 2024 02:00 ET (07:00 GMT)
C&c (LSE:CCR)
Gráfica de Acción Histórica
De Abr 2024 a May 2024
C&c (LSE:CCR)
Gráfica de Acción Histórica
De May 2023 a May 2024