C&C Group has noted that it will delay the publication of its full-year results, which were due for release on 23 May, RTÉ reported today.
In a statement, the drinks giant noted that while preparations for the report are well under way, additional time is required, for a number of factors.
These include completing a review of certain non-cash accounting measurements relating to previous financial periods.
In January, the company announced that its full-year operating profit was in line with expectations for the financial year of 2024.
At the time, the company noted increasing confidence in the medium-term outlook.
Today it reaffirmed its guidance of an underlying operating profit outcome of €60 million, in line with market expectations.
C&C Group markets and distributes branded beer, cider, wine, spirits, and soft drinks across Ireland and the UK.
Its popular brands include Bulmers, Tennent’s, Magners, and Bibendum Wine.
In a statement, the company noted, ‘With increasing confidence in the medium-term outlook for the business, together with its strong cash generation and conversion, C&C also re-affirms its intention to return €150 million to shareholders over the next three years within its stated leverage range.’
C&C Group added that an updated date for its full-year results will be provided as soon as possible.
Read More: C&C Operating Profit ‘In Line With Current Market Expectations’
