Momentum continues into second half for drinks group C&C
UK businesses’ operational delivery ‘ahead of plan’
The Bulmers brand is included in C&C’s product portfolio. Photograph: Nick Bradshaw
Drinks group C&C said full-year results would be in line with expectations following the key Christmas period.
In a trading update for the four months to the end of December, the group said it operational delivery and customer service at its UK businesses Matthew Clark and Bibendum have been strong and ahead of plan.
C&C acquired Matthew Clark, the leading independent distributor to the UK pub trade, and wine business Bibendum for a nominal sum in April 2018.
The rest of C&C’s business, which includes the Bulmers and Magners brands in its product portfolio, continued positive trading momentum into the second half of the year, with revenues tracking mid-single digit growth.
Chief executive Stephen Glancey said the group was “well positioned” for 2019, despite political uncertainty.
“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 per cent of Ebitda we are poised to provide enhanced shareholder returns.”