C&C Group Plc
31 July 2007
Outlook for six months
ending 31 August 2007
Dublin, London, 31 July, 2007: C&C Group plc ('C&C' or the 'Group'), a leading
manufacturer, marketer and distributor of branded beverages in Ireland and the
UK, today issued the following statement in relation to trading performance for
the first half year to 31 August, 2007.
When C&C issued its Interim Management Statement in advance of the AGM on 13th
July 2007, the Group indicated that it expected operating profit(i) for the full
year ending 28 February 2008 to match last year, including a decline in
operating profit(i) for the six months ended 31 August 2007.
Trading performance deteriorated at an unexpected rate during the second half of
July and C&C's cider sales volumes for the month declined significantly on the
same period last year. This weak performance primarily reflects the sustained
period of extremely poor weather in Great Britain and Ireland and also increased
competition in Great Britain.
Taking into account the low rate of sale in July and the anticipated knock-on
effect into August, the Group has reduced its view of the half-year outcome.
Accordingly the Group would expect that in the half year to 31 August 2007
operating profit(i) outcome will be down by c. 35% on the prior year. The scale
of the decline reflects weak cider volumes combined with substantially higher
manufacturing and marketing costs.
The impact of the extremely poor weather on summer recruitment, together with
increased competition, leaves a degree of uncertainty in respect of the outlook
for the second half year for the Cider division. During the second half the
Group plans to maintain its marketing investment programme while reducing costs
in other areas. C&C will provide its perspective on the second half performance
when it issues its half year results on 10th October 2007.
The Group will issue its first half trading statement on 31 August 2007.
(i) Continuing operations - before exceptional items and excluding Snack/Soft
Drink divisions.
Investor and Analyst Conference Call Details
Maurice Pratt, Group Chief Executive Officer and Brendan Dwan, Group Finance
Director will host a conference call for institutional investors and analysts at
3.30pm (local Irish time) today. Dial in details are available from K Capital
Source on +353 1 631 5500 or c&cgroup@kcapitalsource.com
Investors and analysts Irish Media International Media
Mark Kenny or Jonathan Neilan Paddy Hughes or Ann-Marie Curran Edward Orlebar
K Capital Source Drury Communications M Communications
Tel: +353 1 631 5500 Tel: +353 1 260 5000 Tel: +44 207 153 1523
Email : c&cgroup@kcapitalsource.com Email: phughes@drurycom.com Email: orlebar@mcomgroup.com
This information is provided by RNS
The company news service from the London Stock Exchange
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