C&C sales fall below €800m as distribution business contracts

The Irish Times · Irlanda · Prensahace 8 horas

Bulmers owner C&C Group increased sales of its own brands in the first half, but a decline in distribution revenue contributed to group sales falling below €800 million for the six-month period. A new trading update from the company said group net revenue fell 3 per cent to €794.9 million for the half-year that ended in August.

During the period, branded revenue grew by 3 per cent due to “momentum in Tennent’s and Bulmers” sales, favourable summer weather and a boost linked to the Fifa World Cup. Distribution revenue fell 4 per cent as a result of C&C Group’s planned exit from some lower-margin customer business and “continued pressure” on certain drinks categories.

C&C’s operating profit rose 4 per cent to €43.4 million despite the decline in revenue, while the group reported underlying free cash flow was up 18 per cent to €36.9 million, compared to €31.2 million for the…

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