13th Jul 2009 07:00
Correction to Trading Update
Operating Profit guidance unchanged
Dublin, London, 13 July 2009: C&C Group plc ('C&C' or the 'Group'), today issued the following correction to the trading update for the four months ended 30 June, 2009 issued on 8 July, 2009.
Preliminary, unaudited revenue details provided within the trading statement were inaccurate. Revised revenue details are included below. Volume details and Operating Profit guidance, as outlined in the 8 July trading update, remain unchanged.
|
C&C Group |
Revenue | 4 months to 30 June Change year-on-year Constant currency basis |
Volumes | 4 months to 30 June Change year-on-year |
|
Cider |
(6%) |
Flat |
|
Cider Ireland |
Flat |
+4% |
|
Cider Great Britain |
(12%) |
(4%) |
|
Spirits & Liqueurs* |
(22%) |
(16%) |
|
Total |
(5%) |
*Volume for Spirits & Liqueurs = shipments
Outlook
As outlined on 8 July, 2009, following four months of encouraging trading in the cider division, the Group now has a greater degree of confidence about its plans for the current financial year. As a consequence, and as previously outlined, the Group intends to commit up to an additional €8m of brand investment following recent good weather conditions. With this investment, the Group expects to report an operating profit outcome for FY2010, at the top end of the Group's previously stated guidance range of €77m to €82m.
ENDS
|
Investors and Analysts |
Irish Media |
International Media |
|
Mark Kenny/Jonathan Neilan K Capital Source Tel: +353 1 663 3680 Email: c&[email protected] |
Paddy Hughes/ Anne-Marie Curran Drury Communications Tel: +353 1 260 5000 Email: [email protected] |
Robert Ballantyne/Shanshan Willenbrock Cardew Group Tel: +44 20 7930 0777 Email: [email protected] |
About C&C Group plc
C&C Group plc is a manufacturer, marketer and distributor of branded beverages in Ireland and the UK. C&C manufactures the Irish cider brand, Bulmers, and the international cider brand, Magners, for export to the United Kingdom, the United States and Continental Europe. C&C also exports Spirits & Liqueurs, including the premium Irish whiskey brand, Tullamore Dew, to over 80 international markets.
Special Note regarding forward-looking statements
The announcement includes forward-looking statements, including statements concerning expectations about future financial performance, economic and market conditions, etc. These statements are neither promises nor guarantees, but are subject to risks and uncertainties that could cause actual results to differ materially from those anticipated.
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