Tennent’s owner C&C Group said Scotland’s best-selling lager brand had traded well since the introduction of minimum unit pricing north of the Border.
The Irish group described the introduction of MUP on 1 May as “one of the most significant and far-reaching legislative changes in alcohol retailing for a generation”.
Releasing interim trading figures, C&C said: “It is still early days, but Tennent’s has traded well since the introduction of MUP. This is due to the strength of the Tennent’s brand and our planning and innovation to ensure that Tennent’s continued to serve the needs of Scottish consumers.”
During the six months to the end of August, Tennent’s volumes were up by 1 per cent in the off-trade, ahead of the overall market performance, the group noted. As of the end of September, Tennent’s is enjoying a five-year market share high in the off-trade.
On-trade volumes were flat overall, but in the direct supply independent free trade sector, the Glasgow-based lager brand continued to grow customers, share and value, C&C added.
The group as a whole reported net revenue growth of 6.4 per cent with operating profit up by 4 per cent. Strategic highlights during the period included the completion of the acquisitions of Matthew Clark and Bibendum, and a £6 million investment in IT systems and a new water treatment plant at Tennent’s Wellpark brewery.
C&C Group chief executive Stephen Glancey said: “Trading through the first six months has been strong.”