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