TIDMCCR
Trading Update
Dublin, London | 10 January, 2019: C&C Group plc ("C&C"
or the "Group"), a leading brand-owner, manufacturer and
distributor of cider, beer, wines, spirits and soft drinks, today
reports that trading across the Group for the four months to 31
December 2018 has been in line with expectations, including through
the key Christmas trading period.
Operational delivery and customer service at both Matthew Clark
and Bibendum have been very strong and ahead of plan. We therefore
anticipate that their combined financial contribution will be as
guided at our half year results on 25 October 2018.
Across the rest of the Group, positive trading momentum has
continued into the second half, with revenues tracking mid-single
digit ahead of last year.
Accordingly, the Group currently expects to deliver full-year
results to 28 February 2019 in line with the Board's
expectations.
Stephen Glancey, CEO, commented:
"Despite the current political uncertainty the Group is
increasingly well positioned going into 2019. The new management
teams and colleagues at Matthew Clark and Bibendum, have delivered
an exceptional operating performance over the key Christmas period.
With service levels restored, we now have stable platforms with
real growth potential and unparalleled market access to the U.K. on
trade. In Scotland and Ireland our combination of leading brands
and distribution assets is highly resilient, cash generative and
delivering growth.With a strong balance sheet and normalised cash
flow conversion of 60-70% of EBITDA we are poised to provide
enhanced shareholder returns."
ENDS
Contacts
C&C Group plcStephen Glancey | Group Chief ExecutiveJonathan
Solesbury | Chief Financial OfficerJoe Thompson | Head of Investor
RelationsTel: +44 7980 844 580Email:
Joe.Thompson@candcgroup.com
FTI ConsultingJonathan Neilan/Paddy BerkeryTel: +353 1 765
0884Email: CandCGroup@fticonsulting.com
Novella CommunicationsTim Robertson/Toby AndrewsTel: +44 203 151
7008Email: TimR@novella-comms.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, super-premium and craft ciders and beers, such
as
Heverlee, Menabrea and Orchard Pig.
-- C&C Group has owned brand and contract manufacturing/packing
operations in Co.Tipperary, Ireland; Glasgow, Scotland; and
Vermont,
US, where it manufactures Woodchuck, a leading craft cider brand
in
the United States.
-- C&C is the No.#1 drinks distributor to the UK and Ireland hospitality
sectors. Operating under the Matthew Clark, Bibendum, Tennent's
and
C&C Gleeson brands, the Group supplies over 35,000 pubs,
bars,
restaurants and hotels, and is a key route-to-market for
major
international beverage companies.
-- C&C Group also has a minority investment in the Admiral Taverns
tenanted pub group, which owns over 800 pubs across England
& Wales
and exports its Magners and Tennent's brands to over 60
countries
worldwide.
C&C Group is headquartered in Dublin and is listed on the
Irish and London Stock Exchanges.
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 on page 16 of our
Interim results for the six months ended 31 August 2018, that could
cause actual results to differ materially from those
anticipated.
View source version on businesswire.com:
https://www.businesswire.com/news/home/20190109005886/en/
This information is provided by Business Wire
(END) Dow Jones Newswires
January 10, 2019 02:00 ET (07:00 GMT)
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