Focus - C&C Group FY Performance by Region
Earlier today, C&C Group reported a strong rise in full-year sales, but profits slipped due to costs from integrating acquisitions. Here, just-drinks takes a look at the company's performance by region:
Republic of Ireland
Sales in the region, excluding the Gleeson business, rose by 2.2% to EUR94.2m, off the back of a 1.1% lift in volumes. Operating profits increased by 9.4% to EUR43m. Cider sales rose by 1.7%, with the Bulmers cider brand in “strong health”, the group said. Beer volumes were up 3.7% in the year.
Despite a “complex and challenging integration” for the Gleeson business, which C&C acquired in March last year, the unit reported operating profits of EUR5.2m, off the back of EUR143.1m sales.
The UK (Cider)
Net sales in the region slipped 15% to EUR112.8m, off an 11% slide in volumes. Operating profits dipped 29% to EUR20.7m. UK cider sales for the group fell by 15% due to the “proliferation of new entrants and range extensions”. Magners volumes slipped by 10%.
The UK (Tennent's)
Sales for the unit fell by 1.1% to EUR103.6m, while volumes slipped by 1.6%. Operating profits rose by 18.9% to $34.6m. On-trade volumes grew by 3.1%.
C&C said the unit saw net sales leap by 65.5%, boosted by the integration of Vermont Hard Cider Co into the results, following the acquisition in late 2012. Volumes were up 67.2%, while operating profits jumped 68.4%. “The integration and re-positioning of the US business impacted performance over the past 12 months at a time when competition also intensified,” the company said.
In its export business, volumes rose by 11% year on year and represent 34% of international volumes. The Magners brand grew by 13% with Canada and Australia up 27% and 8% respectively. C&C now exports to 47 countries.
Cider Market in West Europe to 2019: Market Guide
Synopsis Canadean’s, "Cider Market in West Europe to 2019: Market Guide" provides a snapshot of the Cider consumption in West Europe. The quantitative data in the report provides historic and forecast...read more
Diageo may feel comfortable with this morning's Q1 update, but many observers expressed alarm at the extent of the dip in sales. That said, analysts appear united in their longer-term optimism for the...
Synopsis Canadean's "Smurfit Kappa Group plc : Packaging - Company Profile, SWOT & Financial Report" contains in depth information and data about the company and its operations. The profile contains a...
Future forecasts and historic market data can improve market and strategic planning- Understand which channels and products will be the major winners and losers in the coming years. Know the share of...
Synopsis Canadean's "Berry Plastics Group, Inc : Packaging - Company Profile, SWOT & Financial Report" contains in depth information and data about the company and its operations. The profile contains...
Diageo has unveiled the first TV ad for its David Beckham-backed single grain Scotch whisky, Haig Club. ...
- Analysis - Remy's Cognac "dead-cat bounce"
- Comment - How Hand-Made is Tito's Handmade Vodka?
- Heineken to stay "active player" in beer M&A - CFO
- Diageo's future brighter than present suggests
- Diageo's Q1 Results by Region
- Moët Hennessy unveils first Travel Retail outlet
- United Spirits sees Q1 net loss
- Beam Suntory, Edrington part ways in Travel Retail
- Diageo puts Beckham centre stage in Haig Club ad
- Smirnoff Ice gets India launch