Timing of FY2024 Full Year
Results
Dublin, London 10 May 2024:
C&C Group plc ('C&C' or the
'Group'), owners of the Tennent's, Magners and Bulmers Ireland
brands, and Matthew Clark and Bibendum Wine, announces that the
FY2024 full year results announcement, scheduled for 23 May, has
been deferred. Whilst the preparation of
the Group's Annual Report and Accounts for FY2024 is well advanced,
additional time is required to complete a review of certain
non-cash accounting measurements relating to previous financial
periods.
C&C re-affirms its guidance of
an expected FY2024 underlying operating profit outcome of c.€60
million, in line with current market expectations. With increasing
confidence in the medium-term outlook for the business, together
with its strong cash generation and conversion, C&C also
re-affirms its intention to return €150 million to shareholders
over the next three years within its stated leverage
range.
The rescheduled date for the Group's
FY2024 full year results announcement will be provided as soon as
possible.
ENDS
Contacts
C&C Group plc
Riona Heffernan, Group Finance & Investor
Relations Director
Email: riona.heffernan@candcgroup.com
Investors, Analysts & Media
FTI Consulting
Jonathan Neilan / Paddy Berkery /
Niamh O'Brien
Tel: +353 86 231 4135 / +353 86 602
5988 / +353 87 707 8379
Email: CandCGroup@fticonsulting.com
About C&C Group plc
C&C Group plc is a leading,
vertically integrated premium drinks company which manufactures,
markets and distributes branded beer, cider, wine, spirits, and
soft drinks across the UK and Ireland.
• C&C Group's
portfolio of owned/exclusive brands include: Bulmers, the leading
Irish cider brand; Tennent's, the leading Scottish beer brand;
Magners the premium international cider brand; as well as a range
of fast-growing, premium and craft ciders and beers, such as
Heverlee, Menabrea, Five Lamps and Orchard Pig. C&C exports its
Magners and Tennent's brands to over 40 countries
worldwide.
• C&C Group
has owned brand and contract manufacturing/packing operations in
Co.Tipperary, Ireland and Glasgow, Scotland.
• C&C is the
No.1 drinks distributor to the UK and Ireland hospitality sectors.
Operating through the Matthew Clark, Bibendum, Tennent's and
Bulmers Ireland brands, the Group has a market leading range, scale
and reach including an intimate understanding of the markets it
serves. Together this provides a key route-to-market for major
international beverage companies.
C&C Group is a FTSE 250 company
headquartered in Dublin and is listed on the London Stock
Exchange.
Note regarding forward-looking statements:
This announcement includes
forward-looking statements, including statements concerning current
expectations about future financial performance and economic and
market conditions which C&C believes are reasonable. However,
these statements are neither promises nor guarantees, but are
subject to risks and uncertainties, including those factors
discussed in our FY2023 Annual Report that could cause actual
results to differ materially from those anticipated.