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Ireland's C&C Group interim operating profit up 4% on branded unit strength

By Reuters News


Overview

  • Ireland drinks maker's interim revenue fell 3% as planned exit of lower-margin business weighed

  • Operating profit rose 4% and adjusted EPS increased 6% on improved margin and cost control

  • Company acquired Innis & Gunn brand and completed Asahi UK wholesale interests deal after period end


Outlook

  • Company expects full-year operating profit in line with market expectations

  • Company notes market conditions remain volatile ahead of key Christmas trading period

  • Company targets operating profit of €85m in FY2030 and cumulative FCF over €100m for FY2028-30


Result Drivers

  • MARGIN IMPROVEMENT - Co attributed higher profit and margin to growth in core brands, improved mix, pricing and cost control

  • BRANDED GROWTH - Branded segment revenue rose 3%, helped by favourable weather, World Cup, brand investment and innovation

  • DISTRIBUTION EXIT - Distribution revenue fell as co exited lower-margin customer business and faced ongoing outlet attrition


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

H1 Revenue

EUR 794.90 mln


Analyst Coverage

  • The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", 1 "hold" and 1 "sell" or "strong sell"

  • The average consensus recommendation for the distillers & wineries peer group is "buy"

  • Wall Street's median 12-month price target for C&C Group PLC is GBp130.08, about 28.5% above its October 27 closing price of GBp101.20


Reuters Recommended Reads

  • Oct 28 - France's Remy Cointreau H1 sales rise, helped by Cognac growth in Asia

  • Oct 28 - Remy Cointreau beats Q2 sales forecasts, confirms full-year targets

  • Oct 27 - Coca-Cola Q3 profit tops estimates on zero sugar drink sales; lifts outlook


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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