REG - C&C Group Plc - FY26 Trading Update

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RNS Number : 0483Q  C&C Group Plc  23 January 2026

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION

FOR IMMEDIATE RELEASE
 

23 January 2026

C&C Group plc

('C&C' or 'the Group')

 

FY26 Trading Update

 

C&C Group plc today provides a trading update for the year to date.

Trading Overview

As the Group approaches the end of its financial year, overall trading is
below the Board's expectations. Customer performance across November and early
December was impacted by weak consumer confidence associated with the November
UK Budget. Our business performance was driven primarily by softer than
anticipated demand in hospitality, alongside adverse product mix, as consumers
continue to move away from the consumption of wine and spirits, in favour of
beer, across the market.

However, trading across the Christmas fortnight was in line with expectations.
In January to date we have seen continued softness of consumer demand in the
market and anticipate that this will continue for the balance of the current
financial year.

While the Group continued to make strong progress in its key objectives around
improving customer service, developing brand execution, innovation and
operational efficiency, these actions were not sufficient to offset the
combination of subdued market volumes, unfavourable category mix and
competitive pricing dynamics across the market.

Financial Performance

As a result of these factors, the Group now expects adjusted operating profit
to be in the range of €70m - €73m, reflecting the lower operating profits
in our Distribution business.

Within our overall performance, our brands continue to deliver well. Tennent's
and Bulmers performed strongly across the festive period and have delivered
well against our new innovation objectives.

The business continues to be cash generative, and we anticipate continued
solid underlying cash generation for the year.  The business remains
financially robust with a strong balance sheet, significant liquidity and
covenant headroom. The Board remains committed to its capital return plans of
returning a total of €150m over the previously announced timescale with
€92m already returned as reported in our interim results.

Outlook

The Board expects a continuation of the current macroeconomic and consumer
headwinds into next year but remains confident in the Group's ability to
create value for shareholders in the medium to long term.  It is currently
anticipated that FY27 profits will be similar to the current year, reflecting
the impact of planned reductions in volumes through the Distribution channel
as less profitable business is exited, but the lag between revenue decrease
and cost reduction initiatives is expected to lead to some degree of
short-term profit dilution.

The business will continue to prioritise:

·    Operational simplification and cost discipline

·    Margin rebuild in the Distribution business through disciplined
pricing and revenue management

·    Strengthening brand equity and innovation in core categories

·    Accelerated efficiency programmes to support medium term profit
recovery

The Group will provide a fuller update on trading, along with an update on its
future strategic direction, in May 2026 as previously disclosed.

 

Next update | Full year results - 19(th) May 2026

 

Contacts:

C&C Group plc

Roger White, Chief Executive Officer

Andrew Andrea, Chief Financial and Transformation Officer

Email: investor.relations@candcgroup.ie
(mailto:investor.relations@candcgroup.ie)

 

Investors, Analysts & UK Media:

Team Lewis

Justine Warren / Tim Pearson

Tel: 020 7802 2617 / 07785 555692

Email: canccapmkts@teamlewis.com (mailto:canccapmkts@teamlewis.com)

 

Irish Media

FTI Consulting

Jonathan Neilan / Paddy Berkery / Niamh O'Brien

Tel: +353 86 231 4135 / +353 86 602 5988 / +353 87 707 8379

Email: CandCGroup@fticonsulting.com (mailto:CandCGroup@fticonsulting.com)

 

 

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