Strikes, cost of living crisis hit C&C Group – trading update

Magners and Tennent’s owner C&C Group has flagged several headwinds in its latest trading statement.

The company said late last week that despite year-on-year net revenue growth of around 20% in the key trading month of December 2022, it now expects the group’s full year operating profit range for FY2023 to be €84-88 million.

“We believe consumer spending pressure is a driver behind this trading performance and will continue to be so in the near-term,” the company said. “Further, trading has been significantly impacted by rail network strikes in the UK, reducing footfall in urban areas over the key festive trading period.”

C&C said it will continue to review and drive efficiencies throughout its business “while ensuring we deliver a market leading offering to our customers and consumers”.

The company's full year 2023 ends on February 28. 

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