C&C Group, the owner of brands such as Bulmers, Magners and Tennents, has reported a jump in annual revenues and operating profits in what it described was a “transformational year” for the business.
The Irish drinks firm saw its group revenue for the year to the 28 February jump by 188% to €1.58bn, boosted by the acquisitions of Matthew Clark and Bibendum in the UK. Operating profits climbed 21.5% to €104.5m. However, on an organic basis, revenue and profit growth came in at 3.2% and 3.3% respectively.
CEO Stephen Glancey said: “FY2019 was a transformational year for the company. Despite strong multi beverage brand led positions in Ireland and Scotland, access to the wider UK on-trade had always been a challenge. The acquisition of Matthew Clark and Bibendum changes this dynamic.
“We are now the largest final mile distributor to the on-trade of alcohol and other drinks in the British Isles with unparalleled access to this profitable market channel. In the longer term this will provide the platform for developing our high premium speciality beers and ciders. It will also make C&C the natural partner for others seeking a gateway through to 60 million high value consumers.”
