Bulmers Maker Forecasts A 20% Earnings Increase
C&C has forecasted a 20% increase of both earnings before interest (EBIT), as well as adjusted earnings per share (EPS), according to its latest trading update for the 12 months ended 28 February 2019.
Following from its trading update of 10 January, 2019, the Bulmers maker in a statement today said that it anticipates operational delivery, customer service and the underlying cash contribution of both Matthew Clark and Bibendum in the second half have continued to improve.
“Consequently, Group year-end net debt is now expected to be well below current market estimates, within a range of €305 million - €312 million,” the group said.
Operating under the Matthew Clark, Bibendum, Tennent's and C&C Gleeson brands, the group said that its “Scottish and Irish and branded businesses, positive trading momentum continued.”
Cheltenham Gold Cup
The drinks company’s Irish cider brands, Magners and Bulmers are exclusive sponsors of the Cheltenham Gold Cup, which takes place next week.
The group said, that the partnership, “will build on this momentum and demonstrates the ambition we have for these brands.”
The partnership the first major horse racing sponsorship by Magners and Bulmers, which is produced in Clonmel, County Tipperary and is part of C&C Group Plc.
The four-year agreement between Bulmers Irish Cider and Jockey Club Racecourses will see the first Bulmers Cheltenham Gold Cup on Friday, 15 March 2019,.
The sponsorship which will run until 2022, will also see Bulmers Irish Cider become the Presenting Partner across all four days of The FestivalTM, meaning The FestivalTM will be recognised in the Republic of Ireland as ‘The FestivalTM, presented by Bulmers’.
© 2018 Checkout – your source for the latest Irish retail news. Article by Donna Ahern. Click subscribe to sign up for the Checkout print edition.