C&C Reports 'Subdued' Performance In Half-Year Results
C&C Group has reported a 'more subdued' -1% performance, in the cider category in Ireland in it latest, financial half-year results.
Bulmers posted a decrease of -5% year-on-year 'against strong comparatives', which showed an increase of +6%.
"Volatile market conditions remain across the industry," said Stephen Glancey, CEO of C&C Group.
"We are pleased our GB businesses have made a solid start to the second half of the financial year. However, in Ireland, where the cider category remains highly competitive, trading has been marginally slower than expected."
The report indicated that growth in its off trade channel showed a 2% increase, but this was off set by lost distribution points and share in draugh.
Overall its net revenue showed a decline of 6.8% year-on-year to €273.1 million, while the group’s operating profit fell by almost 5%to €50.5 million compared to the same period last year.
On an international scale the group showed progress.
In Europe it reported a strong performance for Germany and Russia.
Going forward, C&C Group says that it will continue evolve its business model in Great Britain.
Glancey added, "Looking further ahead, we are increasingly confident that our brands, market positions, operational investments and now enhanced route-to-market infrastructure in GB will return the business to growth and deliver enhanced shareholder value over the medium term.”
However, it showed quieter trading in Spain and France.
© 2017 - Checkout Magazine by Donna Ahern