Tennent's Lager steadies ship after turbulent period
And there is no doubt life has settled down at C&C since shareholder confidence was rocked by the internal strife. Results announced to the City today revealed a resurgent performance by the Dublin-based drinks company, which saw operating profits surge by 17.1% to €77.1 million in the year to February 28.
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It was certainly a more benign update for chief executive Roger White to deliver to the market, after the first he presented shortly after joining the business in March containing a profit warning.
Speaking to The Herald today, Mr White certainly did not give the impression that C&C was the finished article. But he expressed confidence that the worst of the problems at Matthew Clark Bibendum were over, with the wholesaling arm continuing to win customers and striving to recover the loss of confidence in the business.
Yet there are big external challenges to navigate. While C&C may be able to master the internal errors that have hampered it over the last two years, the trading environment continues to be turbulent. As Mr White, a former long-standing boss of AG Barr observed, the hospitality businesses that C&C supplies are dealing with problematic costs just as consumers in many cases are struggling to 'make ends meet'.
It was therefore, arguably the most optimistic assessment that Mr White could deliver when he said the firm was cautiously optimistic about the outlook.
C&C did not alter its guidance for the current year today, and stuck by its expectation that profits will rise only 'marginally' on last year.
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Daily Record
a minute ago
- Daily Record
Here is my strategy for the SNP securing a second independence referendum
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Scottish Sun
6 hours ago
- Scottish Sun
Keir Starmer & John Swinney face difficult ‘balancing act' after Donald Trump admits he's in a grumpy mood
Click to share on X/Twitter (Opens in new window) Click to share on Facebook (Opens in new window) SIR Keir Starmer and John Swinney face a difficult 'balancing act' in talks with Donald Trump - after the US President admitted he was in a grumpy mood. The Prime Minister will fly to Scotland on Monday morning to meet Mr Trump at his Turnberry golf resort in Ayrshire for a 'wide-ranging' summit on issues including trade and the Israel-Hamas war. Sign up for Scottish Sun newsletter Sign up 3 Donald Trump is 'not in a good mood' before summit 3 The Prime Minister and First Minister are set to meet with the US President 3 He made the admission after he striking an EU trade deal Later, the PM and the First Minister will attend a banquet-style dinner hosted by the US leader in the north-east, ahead of him opening a new 18-hole golf course in honour of his late Scottish mother, Mary Anne Macleod, at Menie, Aberdeenshire, on Tuesday. 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The President insisted it was nothing to do with imminent talks with EU chief Ursula von der Leyen, and asked why he was in a bad mood and if it was to do with his latest golf round, Mr Trump said: 'No, the golf was beautiful. Golf can never be bad.' But minutes later, a tetchy-sounding President launched into another of his trademark attacks on windfarms, which he famously battled against - in vain - off the Aberdeenshire coast. In a two-and-half minute blast, he claimed he would 'not allow a windmill to be built in the US' as 'they're killing the beauty of our scenery, our valleys, our beautiful planes - and I'm not talking about aeroplanes, I'm talking about beautiful planes, beautiful areas in the US'. He said 'almost all' were made in China and 'when they start to rust and rot in eight years, you can't really turn them off, you can't bury them'. Mr Trump said windmills 'kill the birds' and said: 'You have a certain place in the Massachusetts area that over the last 20 years had one or two whales wash ashore .. cause it's driving them loco. It's driving them crazy.' TRUMP V WINDMILLS Slamming windfarms off the Ayrshire coast, he said 'I mean, today, I'm playing the best course I think in the world, Turnberry - even though I own it, it's probably the best course in the world, right - and I look over the horizon and I see nine windmills right at the end of the 18th hole. 'And I said, 'Isn't that a shame? What a shame.' UK and Scottish government aides are known to be on edge about today's talks with Mr Trump, which will take place between the PM and President at Turnberry, before the pair fly together to Aberdeen, where Mr Swinney will then meet the US leader. All three will then attend a private ceremonial dinner said to involve a 'broad range' of guests including politicians and business figures. Sir Keir is under intense pressure from Labour backbenchers and opposition parties including the SNP to push Mr Trump for the US to revive Gaza ceasefire talks, and also to further the recent UK-US trade deal by pressuring for the removal of punishing ten per cent tariffs on products including Scotch whisky. And Mr Swinney is under fire from left-wingers in the SNP and at Holyrood for even meeting with Mr Trump. The First Minister was blasted by critics at the weekend for announcing £180,000 to help Mr Trump's Menie course to host a golf comp, which wannabe Greens leader Ross Greer claimed was like 'bending the knee' to the US President or 'giving the school bully your lunch money'. A senior Nats source defended Mr Swinney's approach, with the Tories also accusing him of hypocrisy after claims he had last wee 'whipped up' anti-Trump protests, but was now trying to curry favour with the world's most powerful man. The insider said 'There will be complaints about our approach to Trump whatever we do. 'The funding for the event at Trump International Golf Links was a positive announcement and it's our job to make the best of this visit as we possibly can.' Tomorrow morning Mr Trump will carry out the ceremonial opening of the Macleod course at his Menie estate, which it emerged on Saturday was set to get £180,000 from the Scottish Government's tourism and events organisation, VisitScotland, to support its hosting of the 2025 Nexo Championship next month. Police lock down Scots country park and beach ahead of Donald Trump's arrival HOLIDAYMAKERS have been ordered to leave a country park boasting one of Scotland's best beaches as police prepared for Donald Trump's visit to his nearby golf course. Visitors were told to vacate the beauty spot as security is beefed up ahead of US president's trip to his neighbouring Menie Estate in Aberdeenshire tomorrow. Officers locked down Balmedie Country Park and its coastal stretch — which has won 20 awards for the quality of its sand and water. Locals have vowed to protest after the Scottish Government announced a tournament held at his Trump International resort is being given £180,000 of taxpayers' cash. An onlooker said: 'Police were shutting off the beach and the park. 'It's one of the country's best and we're in the middle of the school holidays. 'Trump doesn't own it so it feels ridiculous that people who live here are being told to leave. "Loads of people were told to go. 'Is it any wonder most people around here hate him so much?' Downing Street last night said Mr Trump and Sir Keir are expected to discuss progress on implementing the UK-US trade deal agreed in May, hopes for a ceasefire in the Middle East and applying pressure on Vladimir Putin to end the war in Ukraine. It comes amid pressure on Starmer from Labour MPs to urge the US to rejoin Israel-Hamas peace talks, amid the starvation of kids in Gaza. No10 said in a statement that the 'strength of the UK-US relationship will be on display again' as the PM meets Mr Trump in 'for wide-ranging talks'. It said: 'The leaders are expected to talk one-on-one about advancing implementation of the landmark Economic Prosperity Deal so that Brits and Americans can benefit from boosted trade links between their two countries. 'The Prime Minister is also expected to welcome the President's administration working with partners in Qatar and Egypt to bring about a ceasefire in Gaza. 'Mr Trump's visit comes amid mounting global anger over the humanitarian conditions in Gaza. Police lock down Scots country park and beach ahead of Donald Trump's arrival Foreign Secretary David Lammy said access to aid in Gaza must be 'urgently accelerated', after air drops by Jordan and the United Arab Emirates yesterday. It came hours after Israel opened up aid corridors and 'refuted' the 'false claim of intentional starvation'. Mr Swinney said: 'My meeting with the US President during his visit to Scotland presents a significant opportunity to speak up for the issues that matter to people in Scotland on the highest platform. Global, humanitarian issues are rightly at the forefront of many people's minds. 'It is of utmost importance that we discuss what action can be taken to end the horrific suffering we are witnessing around the world, particularly the unimaginable hardship being endured by people in Gaza and the need for an urgent ceasefire. 'Both the US President and I share a fundamental desire to build peace across the world and to end the suffering endured by so many. I hope that our discussion helps to further that aim.' Mr Trump will visit the UK again in September for the official state visit announced earlier this year. 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BreakingNews.ie
8 hours ago
- BreakingNews.ie
US-EU deal sets 15% tariff on most goods and averts threat of trade war
The United States and the European Union have agreed to a trade deal setting a 15% tariff on most goods, US President Donald Trump announced, staving off higher import taxes on both sides that might have sent shockwaves through economies around the world. The announcement came after Mr Trump and European Commission chief Ursula von der Leyen met briefly at Mr Trump's Turnberry golf course in Scotland. Advertisement Their private meeting was a culmination of months of bargaining, with the White House deadline of August 1 approaching for imposing punishing tariffs on the 27-member EU. 'It was a very interesting negotiation. I think it's going to be great for both parties,' Mr Trump said. The agreement, he said, was 'a good deal for everybody' and 'a giant deal with lots of countries'. Ms von der Leyen said the deal 'will bring stability, it will bring predictability that's very important for our businesses on both sides of the Atlantic'. Advertisement Mr Trump said the EU had agreed to buy some 750 billion dollars' (£558 billion) worth of US energy and to invest 600 billion dollars (£446 billion) more in America, as well as making a major purchase of military equipment. Mr Trump played golf at his Trump Turnberry golf course in South Ayrshire (Jane Barlow/PA) The US leader said: 'We are agreeing that the tariff straight across for automobiles and everything else will be a straight across tariff of 15%. 'We have a tariff of 15%. We have the opening up of all of the European countries.' Ms von der Leyen said the 15% tariffs were 'across the board, all inclusive' and that 'indeed, basically the European market is open'. Advertisement Before the meeting began, Mr Trump pledged to change what he characterised as 'a very one-sided transaction, very unfair to the United States'. 'I think both sides want to see fairness,' the Republican President told reporters. His EU Commission counterpart spoke of rebalancing. Ms von der Leyen said the US and EU combined have the world's largest trade volume, encompassing hundreds of millions of people and trillions of dollars. She added that Mr Trump was 'known as a tough negotiator and dealmaker'. 'But fair,' Mr Trump added. Advertisement Together, the EU and the US are a market of 800 million people. And nearly 44 percent of global GDP. It's the biggest trade deal ever ↓ — Ursula von der Leyen (@vonderleyen) July 27, 2025 For months, Mr Trump has threatened most of the world with large tariffs in hopes of shrinking major US trade deficits with many key trading partners. More recently, he had hinted that any deal with the EU would have to 'buy down' the currently scheduled tariff rate of 30%. During his comments before the deal was announced, he pointed to a recent US agreement with Japan that set tariff rates for many goods at 15% and suggested the EU could agree to something similar. Asked then if he would be willing to accept tariff rates lower than that, Mr Trump said 'no'. Advertisement Joining Ms von der Leyen were Maros Sefcovic, the EU's chief trade negotiator; Bjorn Seibert, the head of von der Leyen's Cabinet; Sabine Weyand, the commission's directorate-general for trade, and Tomas Baert, head of trade and agriculture at the EU's delegation to the US. The US and EU seemed close to a deal earlier this month, but Mr Trump instead threatened the 30% tariff rate. The deadline for the Trump administration to begin imposing tariffs has shifted in recent weeks but is now firm, the administration insists. Mr Trump hailed the deal (AP) 'No extensions, no more grace periods. August 1, the tariffs are set, they'll go into place, Customs will start collecting the money and off we go,' US commerce secretary Howard Lutnick told Fox News on Sunday. He added, however, that even after that 'people can still talk to President Trump. I mean, he's always willing to listen'. Without an agreement, the EU said it was prepared to retaliate with tariffs on hundreds of American products, ranging from beef and car parts to beer and Boeing planes. If Mr Trump eventually followed through on his threat of tariffs against Europe, it could have made everything from French cheese and Italian leather goods to German electronics and Spanish pharmaceuticals more expensive in the United States.
