Cantrell & Cochrane's results for the year to the end of September show strong growth at the operating level, with operating profits up 14 per cent, on €132 million (£104 million).
Pre-tax profits doubled to €31.5 million and margins improved to 17.6 per cent, as sales rose 12 per cent to €750 million. Capital expenditure during the year totalled €33 million, while the company spent €62 million on brand marketing.
The split in sales between the various divisions was much the same as the previous year, with alcoholic drinks accounting for 66 per cent of the total, non-alcoholic drinks for 27 per cent and snack foods for 7 per cent. Ireland continues to account for two-thirds of sales.
Within alcoholic drinks operations, Bulmers cider was the top performer, claiming a cider market share of 90 per cent. C&C's wine sales recorded double-digit growth, while sales in the current year will be boosted by the recent Findlaters acquisition and the addition of the Lindeman agency. Tullamore Dew had 11 per cent growth, while Carolans, Irish Mist, Frangelico and Aperol in Italy all had good growth.
C&C's soft drinks operations were boosted by the addition of the 7Up franchise. Ballygowan regained market share lost due to a strike in 2000, while Club Orange and Mi-Wadi retained their positions within their sectors.
The one cloud was at the Tayto snack foods subsidiary - bought in mid-2000 for €74 million. That operation suffered from teething problems with a new low-fat crisps manufacturing plant, which coincided with the arrival of Walkers as a major competitor to Tayto.
