C&C Group 'Encouraged' By Trade Recovery As Outdoor Hospitality Reopens
C&C Group plc said on 1 July that it had been encouraged by the way in which trade had recovered in the UK from April 2021 and in Ireland from 7 June 2021 as outdoor hospitality reopened.
In a trading update ahead of its Annual General Meeting (AGM) on 1 July, the Bulmers owner noted that in the week ending Sunday, 27 June 2021, it had delivered to 82% of the outlets that it had delivered to in the comparative week in 2019.
Given that social distancing and indoor restrictions remain in place, volume throughput is adversely impacted through the customers that are currently operating, the drinks company said.
Nevertheless, it said it was encouraged by trading in recent weeks, with good weather aiding outdoor trading over the period.
Modest Trading Profit In May
Following the progressive easing of restrictions since April and the partial recovery in the on-trade, C&C recorded a modest trading profit in May, with this improving further in June.
David Forde, chief executive of C&C Group, commented, "Despite restrictions still in place and confirmed delays to full reopening, we remain cautiously optimistic about the gradual recovery of the hospitality sector in our core markets of the UK and Ireland, and we look forward to continuing to support our customers as restrictions are removed.
"As we navigate through this period, our focus is to continue to build and develop our brand and system strength, which underpins C&C’s position as the leading brand-led distributor in the UK and Irish drinks market. Our recent successful capital raise has strengthened the balance sheet and positions the Group to take advantage of opportunities to strengthen and grow our business as we return to a more normalised trading environment,” he added.