Drinks maker C&C expects revenue to return to pre-Covid levels

Beverage maker C&C expects sales to return to pre-pandemic levels in company results for the first half.

The drinks group said in a trade statement that it expects sales of 900 million euros for the six months ended August 31.

This represents an increase of 35 percent for the same period last year and is also “broadly” in line with the comparable period before the pandemic.

C&C also expects operating profit for the first half to be between €52 million and €55 million, compared to €16 million for the same period in 2021.

This will be below the €64 million recorded in the pre-pandemic comparable period.

The company posted a “robust” trading return to start its fiscal year in March, but noted a slowdown in on-trade sales due to the impact of inflation on discretionary income.

C&C also stated that it would consider the potential return of capital, including dividends, to shareholders in the second half of the fiscal year.

C&C produces, markets and distributes beverages across the UK and Ireland, including Bulmers and Magners ciders.

For the year ended February 2022, C&C reported an operating profit of €47.9m compared to a loss of €63.6m in 2021 after lockdown periods. In the same period, sales increased by 87.8 percent to 1.4 billion euros.

https://www.independent.ie/business/irish/drinks-maker-c-and-c-expects-revenues-to-return-to-pre-covid-levels-41987952.html Drinks maker C&C expects revenue to return to pre-Covid levels

Fry Electronics Team

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