US Firm BlackRock Builds Up 4% Stake In C&C Group
US firm BlackRock has built up a 4% stake in Bulmers owner C&C Group.
The US investment giant shareholding exceeded the 3% threshold, necessitating a declaration on 20 December, 2019, reports the Irishexaminer.ie
In October 2019, the cider manufacturer revealed that its net revenue rose 13.5% to €874.9 million, while its operating profit rose 9.2% to €63.8 million in the first half of its 2019 financial year.
The group's like-for-like adjusted diluted earnings per share grew by 5.8% while its basic earnings per share grew 7.5%, its latest results for the six months that ended on August 31, 2019 show.
Additionally, the group recorded free cash flow of €80.6 million, representing 112.7% of adjusted earnings before interest, tax, depreciation and amortisation (EBITDA).
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