C&C Group (CDI) (CCR)

Sector:

Beverages

Index:

FTSE 250

171.40p
   
  • Change Today:
    -2.20p
  • 52 Week High: 182.20p
  • 52 Week Low: 116.60p
  • Currency: UK Pounds
  • Shares Issued: 370.57m
  • Volume: 317,959
  • Market Cap: £635.15m
  • RiskGrade: 222

C&C reiterates full-year outlook despite washout summer

By Abigail Townsend

Date: Tuesday 29 Oct 2024

LONDON (ShareCast) - (Sharecast News) - C&C Group said it remained on track to meet full-year expectations on Tuesday, despite washout summer weather hitting trading.

The Irish drinks manufacturer and distributor, which owns Bulmers, Magners and Tennent's, said net revenues declined 3% to €861.4m in the six months to 31 August.

C&C attributed the decline to poor summer weather and subdued market conditions. In particular, revenues were affected by the disposal of its soft drinks business in Ireland, lower contract brewing volumes and softer cider volumes in Great Britain.

However, underlying group operating profits before exceptional items jumped 29% to €40.3m, after an efficiency drive boosted operating margins.

Looking to the full year, C&C acknowledged that conditions remained "tough", with consumer confidence dented in the lead-up to this week's Budget.

But it said it remained on tracked to achieve full-year operating profits of €80m, with cost efficiencies expected to further enhance margins in the second half.

"Positively, we have well executed plans in place for the Christmas and New Year period, as well as encouraging trading momentum," it noted.

Ralph Findlay, chief executive, said: "Despite unfavourable summer weather, our brands demonstrated inherent appeal and resilience, with both Tennent's and Bulmers growing market share.

"As we enter the busy Christmas and New Year trading period, we are committed to delivering outstanding service, winning customers, continuing to simplify the business and to further improve operating efficiency."

Greg Johnson, analyst at Shore Capital, which has a 'buy' rating on the FTSE 250 stock, said: "We see the update as reassuring, with the current valuation failing to reflect the medium-term margin rebuild opportunity and strengthening cash flow."

As at 0900 GMT, shares in C&C were down 2% at 158.2p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

C&C Group (CDI) Market Data

Currency UK Pounds
Share Price 171.40p
Change Today -2.20p
% Change -1.27 %
52 Week High 182.20p
52 Week Low 116.60p
Volume 317,959
Shares Issued 370.57m
Market Cap £635.15m
RiskGrade 222

C&C Group (CDI) Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
28.66% below the market average28.66% below the market average28.66% below the market average28.66% below the market average28.66% below the market average
50.00% above the sector average50.00% above the sector average50.00% above the sector average50.00% above the sector average50.00% above the sector average
Price Trend
2.88% above the market average2.88% above the market average2.88% above the market average2.88% above the market average2.88% above the market average
71.43% above the sector average71.43% above the sector average71.43% above the sector average71.43% above the sector average71.43% above the sector average
Income
32.40% above the market average32.40% above the market average32.40% above the market average32.40% above the market average32.40% above the market average
Sector averageSector averageSector averageSector averageSector average
Growth
10.46% above the market average10.46% above the market average10.46% above the market average10.46% above the market average10.46% above the market average
50% below the sector average50% below the sector average50% below the sector average50% below the sector average50% below the sector average

C&C Group (CDI) Dividends

  Latest Previous
  Final Interim
Ex-Div 12-Jun-25 14-Nov-24
Paid 18-Jul-25 13-Dec-24
Amount 4.13¢ 2.00¢

Trades for 29-Aug-2025

Time Volume / Share Price
16:35 113,522 @ 171.40p
16:35 1 @ 171.40p
16:35 1,754 @ 171.40p
16:35 287 @ 171.40p
16:35 678 @ 171.40p

C&C Group (CDI) Key Personnel

CEO Roger Alexander White
CFO Andrew Andrea

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