Irish brewer C&C Group today reported weaker annual results, impacted by poor weather and competitive trading conditions.
In the 12 months to 29 February 2016, the company’s total operating profit slipped 10.3% to €103.2m on net revenue down 3.1% to €662.6m.
In Ireland, operating profits fell 17.4% to €49.0m on revenues down 10.5% to €261.6m. Meanwhile, profits slipped 11.2% to €37.9m in Scotland with revenues falling 6.8% to €227.4m.
Stephen Glancey, Group CEO, commented: “In our domestic businesses in Ireland and Scotland we faced a range of challenges including poor weather, increased competitor dynamics and of course the impact in Scotland of the changes to drink driving regulations.”
He added: “Integration of Gleeson’s and Wallace’s is now complete and we have a stronger customer focused platform which provides us with a competitive advantage as we build on the relative strengths of our local heroes, Bulmers and Tennent’s.”
Glancey said that in the wider UK market, Magners Original delivered both volume and share growth. The group has a new marketing campaign planned for this summer, which is expected support growth.
He added that its C&C brands business has also developed a number of speciality beers and ciders with volume of Menabrea Italian beer more than trebled and Heverlee, its Belgium Pilsner, growing by 34%.