Cider Maker C&C Group's Sales 'Meet Expectations' In Key Period
Dublin-based drinks group C&C Group has posted a trading update for the four months to 31 December 2018, in which the drinks giant stated that its performance has been in line with expectations, including the key Christmas trading period.
The group also said that operational delivery and customer service at Matthew Clark and Bibendum have performed strongly during the period.
In April of last year, the group acquired Matthew Clark and Bibendum – the wholesale arm of UK drinks company, Conviviality.
Across the rest of the Group, positive trading momentum from the first half continued into the second half of its financial year, with revenues tracking mid-single digit figures, the company said.
Chief executive, Stephen Glancey, said, “Despite the current political uncertainty the Group is increasingly well positioned going into 2019. The new management teams and colleagues at Matthew Clark and Bibendum, have delivered an exceptional operating performance over the key Christmas period."
Glancey added that the company has a real growth potential, and an unparalleled market access to the UK.
"In Scotland and Ireland our combination of leading brands and distribution assets is highly resilient, cash generative and delivering growth," he explained.
"With a strong balance sheet and normalised cash flow conversion of 60% -70% of EBITDA we are poised to provide enhanced shareholder returns.”
© 2019 European Supermarket Magazine – your source for the latest retail news. Article by Dayeeta Das. Click subscribe to sign up to ESM: European Supermarket Magazine.