Drinks group C&C report lower revenues and profit

Crumlin-based drinks group C&C reported lower revenues and profits in their latest annual report, year end February, after leaving the Budweiser Brewing Group.

C&C, who create Bulmers, saw a fall in profit before tax of more than €6m, with a drop of 5.7 per cent in revenue.

A shrinking of almost 7 per cent of the business’ adjusted Earnings Before Interest, Taxes, Depreciation, and Amortisation also occurred, but the company’s operating margin only fell slightly by 0.1 per cent.

Bulmers, along with Tennants, are brewed by the group operating out of Bulmers House on Keeper Road and are some of the core brands of the business.

The company put the shrinking of revenue in the full financial year partly down to their exit from the Budweiser Brewing Group, which was an expected change.

The exit of BBG’s was part of an agreement for the Irish company to reassume control and distribution of Magners and its wider cider portfolio in Britain from the beginning of 2025.

The changes in Magners distribution caused some turbulence as sales in Britain saw a dip.

Another factor cited was the conditions of the hospitality market, which were described as challenging, but the company also stated growth of their core brands.

The company has put forward a final dividend of 3.67 cent, down almost half a cent from the previous year, with €105m returned to shareholder – adjusted earnings per share show a decrease of 1.5 cents per share.