Instagram feed

+ 01145928421 SUPPORT@ELATED-THEMES.COM

Blog

HomePress ReleasesPeriod end trading update for the 12 months ended 28 February 2018

Period end trading update for the 12 months ended 28 February 2018

Dublin, London | 13 March, 2018: C&C Group plc, the manufacturer, marketer and distributor of branded cider, beer, wine and soft drinks, today issues its period end trading update for the 12 months to 28 February, 2018 (“FY18”). Preliminary results for FY18 will be announced on 16 May, 2018.

Summary

  • Despite weather-related disruption, trading and cash generation was broadly in line with management expectations
  • Group operating profit is anticipated to be around €86 million for the full year, with Admiral Taverns contributing an additional €1.1 million to Group earnings
  • Cash conversion is expected to be within our guidance range at c.60% of EBITDA
  • Tennent’s in Scotland and super-premium brands grew revenues strongly
  • Magners returned to volume growth with momentum building through the first year of our cider distribution partnership with AB InBev
  • Resilient trading in off-trade and on-trade packaged in Ireland, but competitive pressures in draught remain intense
  • Currency translation of c. €3 million and one-off impacts relating to the new AB InBev arrangements negatively impacted full year profitability