C&C Group’s full-year 2021 finished with a robust return to trading, driven by strong consumer demand, the drinks group outlined in its latest financial trading update, ended 28 February 2022.
The Bulmers-maker highlighted in its 7 January 2022 trading update that the operating-profit outcome for the first half of 2021 had been affected as result of the renewed government restrictions on the hospitality industry, particularly during the key Christmas trading period.
Consequently, the vertically integrated premium drinks company expects to report a full-year 2021 operating profit in the range of €45-47 million, it outlined in the statement.
‘Core Market Restrictions’
The company noted that in January 2022, restrictions in its core markets of the UK and Ireland had eased, and it is pleased to see positive trading in the on-trade.
C&C is back trading with 81% of directly delivered outlets in February 2022 versus February 2020, with corresponding volumes at 68% and momentum building as outlets continue to reopen, it added.
Cost Reduction Plan
According to C&C, it is operating in an evolving inflationary cost environment, however, it is afforded a degree of protection through its successfully executed €18 million cost reduction plan, its recent price increases, and input cost hedging.
Over and above effective management of both operating and input costs, its well-invested network and technology-led system continue to provide the platform for C&C to be the pre-eminent brand-led drinks distributor in the UK and Ireland, it added.
© 2022 Checkout – your source for the latest Irish retail news. Article by Donna Ahern. For more drinks news, click here. Click sign up to subscribe to Checkout.
