Trading Statement

RNS Number : 0814Y

C&C Group Plc

27 August 2009

 



TRADING STATEMENT FOR THE FIVE MONTHS

ENDED 31ST JULY 2009

Dublin, London 27 August, 2009: C&C Group plc ('C&C' or the 'Group'), a manufacturer, marketer and distributor of branded beverages in Ireland and the UK, today issued the following Trading Statement for the five months ended 31 July 2009. 

Five months ended 31 July 2009

Revenue declined by 5% on a constant currency basis versus the same period last year, comprising a decline in Cider revenue of 4% and a decline in Spirits and Liqueurs revenue of 22%. 

The Group's cider volumes increased by 3% whereas its Spirits & Liqueurs volumes declined by 17% during this period.

In the Republic of Ireland, Bulmers cider volumes grew 3% against the backdrop of a weak LAD(i) market and a challenging economic environment while in Great Britain, Magners cider volumes increased by 1%. 

The Spirits & Liqueurs volume decline in the period is attributable to continuing de-stocking in its major markets, however, there are some indications that this de-stocking process may be drawing to an end.

Performance Review & Outlook

The Group has taken a series of steps to stabilise performance and to better position the business for growth in Ireland and the UK. The performance of the Cider business during the first five months is encouraging. 

The Group re-affirms its guidance that operating profit for the financial year ending 28 February 2010 for the existing business of the Group, before taking into account the impact of the proposed acquisition of the Irish, Northern Irish and Scottish businesses of AB InBev, will be at the top end of the previously stated guidance range of €77m to €82m.

(i) Long Alcoholic Drinks

ENDS

Investors and Analysts	Irish Media	International Media
Mark Kenny/Jonathan Neilan K Capital Source Tel:      [phone] Email:  c&[e-mail]	Paddy Hughes/ Anne-Marie Curran Drury Communications Tel:        [phone] Email:    [e-mail]	Robert Ballantyne/Shanshan Willenbrock Cardew Group Tel:    [phone] Email: [e-mail]

About C&C Group plc

C&C Group plc is a manufacturer, marketer and distributor of branded beverages in Ireland and the UK. C&C manufactures the Irish cider brand, Bulmers, and the international cider brand, Magners, for export to the United Kingdom, the United States and Continental Europe. C&C also exports Spirits & Liqueurs, including the premium Irish whiskey brand, Tullamore Dew, to over 80 international markets.

Special Note regarding forward-looking statements

The announcement includes forward-looking statements, including statements concerning expectations about future financial performance, economic and market conditions, etc.  These statements are based on the Group's current plans, estimates and projections, as well as the Group's expectations of external conditions and events, which involve a number of risks and uncertainties. These statements are neither promises nor guarantees, but are subject to risks and uncertainties that could cause actual results to differ materially from those anticipated.   The Company undertakes no duty to and will not necessarily update any of them in light of new information or future events, except to the extent required by any applicable law or regulation. 

 

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