Drinks group C&C expects an operating profit of between €45m and €47m in its full-year 2022 results, despite cost inflation and the effects of Covid lockdowns late last year. The group said in a trading update today that it expects net debt to come in at approximately €263m, down significantly on the €442m net debt for the full year 2021. The operating profit estimate was marginally ahead of Goodbody analysts’ forecast for €44m and comes after Covid-induced losses in 2021. In a pre-close trading statement for the year ended 28 February 2022, C&C said there has been a “robust return to trading driven by strong consumer demand”. C&C Group produces a range of drinks across the UK and Ireland, including Bulmers, Tennents, Tipperary water and Finches.

Source: Irish Independent March 16, 2022 20:04 UTC