World Cup boosts C&C Group volumes

World Cup boosts C&C Group volumes

Magners cider maker C&C Group has said it is on-track to meet full-year expectations, but said discounting during the FIFA World Cup put pressure on margins.

C&C chairman Tony O'Brien said today (5 August) that the firm was pleased with the performance of Bulmers cider in Ireland and Magners in the UK for its fiscal year-to-date. Tennent's and Gaymers brands were also selling in-line with expectations, he told sharedholders at the company's annual general meeting.

Operating profits for the full-year are set to meet market predictions, O'Brien said.

However, he warned that supermarket discounting during the FIFA World Cup ate into sales. "The good weather in June and the World Cup have had a positive impact on volumes in the off-trade, but the level of promotional activity has been significant," he said.

He added that the on-trade has remained "particularly challenging"; a view that echoes recent figures from the British Beer & Pub Association.

O'Brien said that a challenging macroeconomic outlook has not dampened C&C Group's confidence for the year ahead. "The integration of the Tennent’s and Gaymers businesses is progressing well. The creation of a single cider sales and marketing team for Great Britain (“GB”) is now complete."