Cider maker C&C hopes for a long hot summer as shares rise and annual profits hit €77m
Revenue at the group, which also owns brands including Tennent's, Orchard Pig and Five Lamps, was flat at €1.66bn for the year ended February 28. Its pre-exceptional operating profit jumped 29pc to €77.1m however, which was also in line with analysts' forecasts.
The drinks firm saw Tennent's and Bulmers secure market share gains during the year, it noted.
The key summer trading period lies ahead, and tourism always helps sales
In Ireland, C&C said that on-trade volumes of long alcoholic drinks were in line with last year's numbers, with value growth of 9pc that reflected pricing activity and growth.
'The market saw a shift towards stout, premium beer and ready-to-drink categories, with standard lager and cider seeing share declines,' it added.
'Positively, tourism provided a welcome tailwind to the industry, with international visitor spend estimated to have increased 13pc in the year.'
In the off-trade sector, long alcoholic drink volumes fell 5pc (2pc by value). Cider category volume and value declined 6pc and 3pc respectively in the year.
'The large supermarket operators have responded with increased targeted advertising campaigns and deep discounting promotions as actions to stimulate category volume,' noted C&C.
C&C also owns the Matthew Clark-Bibendum distribution business in the UK.
It said the unit saw 'recovering customer momentum' in the year, with numbers of customers up 8pc.
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Despite the group's optimism for 2025, it said that total employment costs in the UK will rise in the coming year – due to the increase in Britain's national minimum wage, and in employer national insurance contributions.
It said the planned Extended Producer Responsibility Levy in the UK, a tax on producers' packaging, will also have an impact.
Tax and the Deposit Return Scheme that is already in effect in Ireland 'will cause further price inflation, as these costs and taxes are passed on to customers and consumers,' it said.
'With the key summer trading period ahead, we are executing our plans for the year, supporting our customers, investing in innovation and brand-building, people, and systems, whilst continuing to simplify the business and control costs,' said chief executive Roger White.
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