C&C net revenues ahead of pre-Covid levels but group warns of inflation risk

Drinks group C&C said its trading performance was “solid” in the four months to June 30th, with net revenues ahead of pre-Covid levels as the company enters its traditionally busier summer period.

But the Bulmers cidermaker also warned that inflation posed a challenge to future demand, saying it was “vigilant” on the potential impact on its cost base and consumer pressures. C&C said it was managing its costs but did not rule out future price increases during the fiscal year.

C&C said revenues were up 6 per cent for the period between March 1st and June 30th.

The company held its annual general meeting on Thursday in Dublin. Chairman Stewart Gilliland did not seek re-election, stepping down after four years in the role and 10 years on the board. He will be succeeded by Ralph Findlay.

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“I would like thank Stewart for his commitment and stewardship of C&C, during which time the group has transformed into the leading final-mile distributor to the on-trade in the UK and Ireland, while navigating the business through the most challenging period in our industry’s history,” Mr Findlay said. “The group has iconic brands, a leading distribution network and a strong capital structure to sustain its future growth ambitions. I look forward to playing a role in driving the future success of the business for all our stakeholders including customers, consumers, employees and shareholders.”