'Unseasonably Cold' Weather Hits C&C Group Performance
Drinks firm C&C Group has said that 'unseasonably cold and wet weather, particularly in May' impacted its performance in the three months to 31 May, in its core Irish and Scottish markets. The...
Drinks firm C&C Group has said that 'unseasonably cold and wet weather, particularly in May' impacted its performance in the three months to 31 May, in its core Irish and Scottish markets.
The maker of Bulmers cider and Tennent's lager issued an interim management statement today, the day of its AGM, in which it added that "cost savings are being used to support incremental marketing spend and the new campaigns for Bulmers and Tennent’s have been well received so far. This should serve to underpin the strength of the brand led wholesaler business model in Ireland and Scotland.
"Once complete, the transformation in the business models will provide an improved platform for modest earnings growth and enhanced cash generation."
On its England and Wales performance, C&C Group had a "positive first quarter", with "trading in line with expectations". In the US, "first quarter shipments were up year-on-year, albeit against soft prior year comparisons."
Looking ahead to the full year, the Group said "FY2016 is a year of stabilisation and investment for the Group. Following weaker than expected trading conditions in the first quarter, we anticipate a gradual improvement in core market performance as the year progresses."
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