C&C Group earnings fall as challenges in hospitality market hit sales

(Alliance News) - C&C Group PLC on Tuesday lowered its dividend as it reported a fall in earnings in a "challenging" hospitality market.

The Dublin-based firm, which makes beer, cider, wine, spirits and soft drinks, said pretax profit said pretax profit fell 54% to EUR9.1 million in the 12 months to the end of February from EUR19.6 million a year earlier.

Revenue was down 7.4% at EUR1.86 billion from EUR2.01 billion, while net revenue fell 5.7% to EUR1.57 billion from EUR1.67 billion.

C&C Group said this reflected the planned exit of Budweiser Brewing Group contractual volume in the Republic of Ireland, alongside "challenging" hospitality market conditions hitting the Distribution business.

However, the firm reported net revenue growth in core brands Bulmers and Tennent's, with "further progress" in premium brands.

Adjusted earnings before interest, tax, depreciation and amortisation fell 6.9% to EUR104.3 million from EUR112.0 million. The firm said this shows "continued underlying profitability" despite lower revenue during the year.

C&C Group proposed a final dividend of 3.67 cents per share, down 11% from 4.13 cents a year ago. This brings the total payout for financial 2026 to 5.75 cents, 6.2% lower than the 6.13 cent payout for financial 2025.

"We have made demonstrable progress in multiple areas across the group in the past 12 months and now have a more stable operating platform from which to build," said Chief Executive Officer Roger White.

"Having established the best route forward for C&C Group to create value and having done much of the preliminary enabling work required, we now look forward with a renewed focus and drive to deliver the necessary change and improvements we have identified to support our value creation ambitions."

The company said its trading performance since the end of February has been in line with expectations.

It noted that forecasting consumer behaviour and demand is "challenging for all" due to an unstable macro environment ahead of the important summer months.

"Notwithstanding this uncertainty, the group has strong plans in place across the business, and we currently expect to meet full-year financial objectives, alongside delivering substantial progress in the development and delivery of our refreshed strategic framework," the firm said.

Shares in C&C Group were up 0.6% at 109.60p on Tuesday morning in London.

By Michael Hennessey, Alliance News reporter

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