C&C Group’s latest results show “significant progress”
C&C Group, leading manufacturer of branded cider, beer and soft drinks has announced its results for the six months to 31 August 2016.
27 October 2016 | 0
C&C Group, leading manufacturer of branded cider, beer and soft drinks has announced its results for the six months to 31 August 2016. The company reports significant progress against its operational priorities outlined ahead of the period, which were to:
- Stabilise trading in Ireland and Scotland: Bulmers volumes are up +6%, supported by category growth and commercial initiatives, while Tennents volumes are up +2% and regaining share.
- Invest behind Magners Original brand to grow volume and share as category rationalises: In its latest report, C&C has Magners brand volumes up by +11% and market share +140bpts. Meanwhile, Magners Original apple now 84% of total brand volumes with small pack +13% and draught +50%.
- Sustain International volume growth and develop increased contribution to Group: C&C’s export markets +10% volume growth; now 4% of Group volumes
- Transition to Pabst partnership and begin the process of recovery in the US: Integrated Pabst/VHCC sales, marketing and distribution platform now in place, according to C&C’s report. In the first half of 2017, C&C plans to target more national accounts.
In its report, C&C said that its latest financial performance was defined by “currency headwind and investment in marketing and price support to drive momentum in core brands.”
The next financial report will benefit from second-half weighting of cost reduction plans and efficiency gains.