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C&C delivers against tough comparators

The drinks maker faced tough prior year comparisons as the result of the football World Cup and a particularly hot summer
C&C delivers against tough comparators

These half-year figures from C&C Group (CCR) are set against a tough comparative period, when balmy summer weather combined with an extended showing from England's football team in last year's World Cup. The drinks maker managed to deliver net revenue growth of 13.5 per cent to €875m (£755m), while operating profit was up 9.2 per cent to €63.8m. Chief executive Stephen Glancey assured investors that the group remains on track to deliver double-digit EPS growth by the end of the current financial year, up from the 7.5 per cent growth rate which excludes lease provisions under accounting standard IFRS16. (Shares in C&C now have their primary quote in London rather than Dublin, with the share price now denominated in pence rather than euro cents).

IC TIP: Buy at 372p

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