Last checked at 10 May 2024 07:00
Timing of FY2024 Full Year Results
Dublin, London 10 May 2024:
C&C Group plc ('C&C' or the 'Group'), owners of the Tennent's, Magners and Bulmers Ireland brands, and Matthew Clark and Bibendum Wine, announces that the FY2024 full year results announcement, scheduled for 23 May, has been deferred. Whilst the preparation of the Group's Annual Report and Accounts for FY2024 is well advanced, additional time is required to complete a review of certain non-cash accounting measurements relating to previous financial periods.
C&C re-affirms its guidance of an expected FY2024 underlying operating profit outcome of c.€60 million, in line with current market expectations. With increasing confidence in the medium-term outlook for the business, together with its strong cash generation and conversion, C&C also re-affirms its intention to return €150 million to shareholders over the next three years within its stated leverage range.
The rescheduled date for the Group's FY2024 full year results announcement will be provided as soon as possible.
ENDS
Contacts
C&C Group plc Riona Heffernan, Group Finance & Investor Relations Director
Email: riona.heffernan@candcgroup.com
Investors, Analysts & Media
FTI Consulting
Jonathan Neilan / Paddy Berkery / Niamh O'Brien
Tel: +353 86 231 4135 / +353 86 602 5988 / +353 87 707 8379
Email: CandCGroup@fticonsulting.com
About C&C Group plc
C&C Group plc is a leading, vertically integrated premium drinks company which manufactures, markets and distributes branded beer, cider, wine, spirits, and soft drinks across the UK and Ireland.
• C&C Group's portfolio of owned/exclusive brands include: Bulmers, the leading Irish cider brand; Tennent's, the leading Scottish beer brand; Magners the premium international cider brand; as well as a range of fast-growing, premium and craft ciders and beers, such as Heverlee, Menabrea, Five Lamps and Orchard Pig. C&C exports its Magners and Tennent's brands to over 40 countries worldwide.
• C&C Group has owned brand and contract manufacturing/packing operations in Co.Tipperary, Ireland and Glasgow, Scotland.
• C&C is the No.1 drinks distributor to the UK and Ireland hospitality sectors. Operating through the Matthew Clark, Bibendum, Tennent's and Bulmers Ireland brands, the Group has a market leading range, scale and reach including an intimate understanding of the markets it serves. Together this provides a key route-to-market for major international beverage companies.
C&C Group is a FTSE 250 company headquartered in Dublin and is listed on the London Stock Exchange.
Note regarding forward-looking statements:
This announcement includes forward-looking statements, including statements concerning current expectations about future financial performance and economic and market conditions which C&C believes are reasonable. However, these statements are neither promises nor guarantees, but are subject to risks and uncertainties, including those factors discussed in our FY2023 Annual Report that could cause actual results to differ materially from those anticipated.