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C&C Group cuts capital expenditure, marketing spend amid COVID-19 crisis

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C&C Group has outlined measures to protect the company against the impact of the coronavirus pandemic.

C&C Group said it can withstand a drop in business activity this year

C&C Group said it can withstand a drop in business activity this year

In a trading update issued late last week, the company said it is "working proactively" to maximise cash, maintain a strong liquidity position and protect profits. Measures include "significantly" reducing capital expenditure as well as reducing marketing spend and drawing down on its full revolving credit facility (RCF).

The group said that although the impact will be hard to quantify, the company expects a material reduction to prior expectations for FY21. "The scale of this reduction will depend upon how the situation develops, over what timeframe, and the impact of further measures implemented by the Irish and UK Governments," the company said.

C&C said that amid on-premise disruption, the company has reallocated additional resources behind the core brands' off-premise channels.

Overall, C&C said it is "well-positioned" to withstand a material decrease in business activity during 2020.

C&C joins a number of companies issuing trading updates amid the COVID-19 pandemic, including Britvic and AG Barr.

Coronavirus COVID-19 and the global drinks industry - just-drinks timeline


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