C&C Group Reports Nine Month Volumes In ROI Up 3.5%
Published on Jan 16 2014 9:40 AM in Drinks
C&C Group, which owns Bulmers and Tennents, has revealed that volumes for the nine month period to 30 November 2013 were up 3.5% on the previous year in its Irish business. Net revenue for the period was up 176.2%, however when the Gleeson acquisition is excluded, net revenue rose by 3.7%.
In the interim management statement, C&C reaffirmed its FY 2014 operating profit guidance of €125m to €132m, and said that trading in Q3 was "resilient" in its core Irish and Scottish market.
Trading over the Christmas period was "satisfactory and in line with expectations".
On the performance of its Irish operation, it said that "volume grew in the period maintaining the improvement in market conditions seen in the first half of the year. The Gleeson business performed in line with expectations with the ongoing integration programme on track to deliver forecast synergies."
Its Cider UK business "remains challenging", however, with volumes down 13.5% over the nine month period to 30 November, and net revenue down 17.5%.
© 2013 - Checkout Magazine by Stephen Wynne-Jones