Reinstating dividend (news shortly) surely a SP driver21 Feb 2023 08:59
from Oct
https://archive.ph/9UIrK
C&C raises a glass to profit growth
Greig Cameron
Friday October 28 2022, 12.01am BST, The Times
A mural in Glasgow celebrating Tennent’s lager, one of C&C Group’s main brands
A mural in Glasgow celebrating Tennent’s lager, one of C&C Group’s main brands
GERARD FERRY/ALAMY
The drinks manufacturer and supplier C&C Group is to reinstate a dividend after increasing profit and trimming debt.
The company was helped by a period with relatively few Covid restrictions across its main markets in the UK and Ireland, with its net revenue increasing almost 36 per cent to €903 million. Pre-tax profit in the six months to August was €47.4 million, compared with €7.1 million previously.
Strong cashflow and the sale of its stake in the Admiral Taverns chain brought net debt down to €179.7 million from €245.8 million previously.
C&C has its headquarters in Dublin and is listed on the London Stock Exchange. Tennent’s, Magners and Bulmers are among its main brands, while it also owns the Matthew Clark and Bibendum wholesalers.