In a brief trading update released today, the C&C Group said it expects to deliver full-year results in line with the Board’s expectations.
The group reported that trading across the group for the four months to 31 December 2018 has been in line with expectations, including the key Christmas trading period.
Across the rest of the Group, positive trading momentum has continued into the second half, with revenues tracking mid-single digit ahead of last year.
This also includes operational delivery and customer services at both Matthew Clark and Bibendum, which it said have been very strong and ahead of plan.
C&C anticipates that their combined financial contribution will be as guided at its half-year results on 25 October 2018.
“Despite the current political uncertainty the Group is increasingly well positioned going into 2019. The new management teams and colleagues at Matthew Clark and Bibendum have delivered an exceptional operating performance over the key Christmas period,” Stephen Glancey, CEO, said.
“With service levels restored, we now have stable platforms with real growth potential and unparalleled market access to the U.K. on trade. In Scotland and Ireland, our combination of leading brands and distribution assets is highly resilient, cash generative and delivering growth.
“With a strong balance sheet and normalised cash flow conversion of 60-70% of EBITDA we are poised to provide enhanced shareholder returns.”
© 2019 Checkout – your source for the latest Irish retail news. Article by Aidan O’Sullivan. Click subscribe to sign up for the Checkout print edition.