1st Jul 2021 14:34
(Alliance News) - C&C Group PLC on Thursday said it made profits in May and June as Covid-19 restrictions in its key markets eased.
The Dublin-based drinks manufacturer and distributor did note an uncertain picture, however, as the next rounds of easing restrictions in both the UK and Ireland have been delayed.
"While still in the early stage of reopening in our core markets, we have been encouraged by the way in which trade has recovered in the UK since the gradual reopening from April 2021 and in Ireland from 7 June 2021 as outdoor hospitality reopened," the Magners and Bulmers cider maker said.
C&C added: "The full reopening of hospitality in the UK was recently delayed by four weeks and is now anticipated over July and August 2021, whilst the reopening of indoor hospitality in Ireland has also recently been delayed, with a revised date yet to be announced."
In the week ending June 27, C&C's deliveries to outlets were at 82% of pre-pandemic levels.
The company said: "Following the progressive easing of restrictions since April and the partial recovery in the on-trade, C&C recorded a modest trading profit in May, with this improving further in June.
But volumes have been hit by social distancing and the restrictions on indoor hospitality that remain in place.
"Nevertheless, we are encouraged by trading in recent weeks, with good weather aiding outdoor trading over the period," the company said.
C&C shares were 2.8% higher at 249.82 pence each in London on Thursday afternoon.
By Eric Cunha; [email protected]
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