C&C sees earnings slightly below target on softer trading, UK Budget
Bulmers cider maker said underlying operating profits would be "modestly below" target amid weaker consumer confidence and the impact of higher wages and employer taxes introduced in the Budget.
Group revenues are expected to be in line with last year reflecting growth in our C&C's distribution business, offset by the impact of the disposal of its non-core soft drinks business in Ireland, the exit of low margin contract brewing volume and softer cider sales in Britain during the key summer trading period.
"Despite these headwinds, the Group has made good progress and expects to report underlying EBIT in the range of €76m - €78m, which although modestly below our target due to softer trading across the market in January and February, reflects significant recovery versus the prior year's earnings of €60m."
"Looking forward, we expect to see continued uncertainty for consumers alongside the impact of the well documented challenges of the hospitality sector."
C&C said earnings in full-year 2026 were expected to be "marginally ahead£ of the year to February.
"The group remains well-positioned to navigate these challenging conditions and our previously stated objective to deliver €100m EBIT remains in place over the medium-term," it added.
Reporting by Frank Prenesti for Sharecast.com
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