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Net Revenue Growth for C&C Despite Difficult US Market

C&C produces Bulmers, amongst a range of other drinks.

C&C produces Bulmers, amongst a range of other drinks.

Drinks group C&C reportednet revenue growth of just over 10% in a newly released financial statement covering to year end February 2015.

The company said its net revenue for the year was €683.9m, driven primarily by strong performances in the Irish and Scotish markets.  In total 86% of the company’s operating profit came from those two markets.

Overally operating profit was down by just over 9% on the previous year as a result of a once off impairment charge of €150m.  Trading in the US market also proved to be challenging during the period as the company continued to invest in the region.

In a continuing trend, C&C’s off trade volume sales grew by 2.8&, while its on trade volme fell by 3.8%.

Also noted in the report was a strong growth for new brands such as Heverlee, as well as third party partner brands.

“Our integration with Gleeson in Ireland has now completed and we are making solid progress with Wallaces Express. In addition, we continue to invest behind our iconic Bulmers and Tennent’s brands,” said Stephen Glancey, C&C Group CEO.

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