Join our community of smart investors

C&C swings to a loss amid hospitality lockdown

Net revenue more than halved in the six months to 31 August, reflecting the closure of pubs and restaurants
C&C swings to a loss amid hospitality lockdown
  • The group has been hit hard by the closure of pubs and restaurants, which pushed it into a first half loss.
  • It returned to profitability from July through September but said that October has been “challenged”.
IC TIP: Hold at 178p

It will come as little surprise that drinks maker C&C (CCR) has been squeezed by Covid-19 and the disruption to the hospitality industry. With the collapse in demand from the ‘on-trade’ channel – pubs, bars and restaurants – net revenue (which accounts for excise duties) more than halved in the six months to 31 August, to €387m (£349m).

To continue reading...
OR
Register for free
Read 3 articles for free each month
* Excl. premium articles
Have an account? Sign in