C&C Group PLC - Dublin-based beer, cider, wine, spirits and soft drinks - Expects to deliver net revenue of roughly EUR900 million for the first half of 2022, up 35% from a year before. Expects its operating profit to be in the range of EUR52 million to EUR55 million, up from EUR16 million. Attributes this to a robust return of demand during the period. Notes that demand experienced a "slowdown" due to the negative impact of inflation on discretionary consumer spending over the second quarter. Intends to review the potential return of capital to shareholders, including dividends, in the second half due to the strength of its balance sheet.
Current stock price: 167.70 pence, down 3.6% on Wednesday morning in London
12-month change: down 29%
By Abby Amoakuh; abbyamoakuh@alliancenews.com
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C&C Group (CCR)