Strong Tennent’s performance puts fizz into C&C

Tennent's is Scotland's best-selling lager brand. Picture: Andy Buchanan
Tennent's is Scotland's best-selling lager brand. Picture: Andy Buchanan
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Tennent’s owner C&C Group has flagged a “highly resilient” performance from its Scottish business, helping to put it on course for steady full-year results.

Releasing a stock market update, the Irish group said trading in the four months to 31 December had been in line with expectations, including through the key festive trading period.

It said operational delivery and customer service at wholesalers and distributors Matthew Clark and Bibendum had been “very strong and ahead of plan”.

The firm added: “Across the rest of the group, positive trading momentum has continued into the second half, with revenues tracking mid-single digit ahead of last year.”

C&C currently expects to deliver results for the full year to 28 February in line with the board’s expectations.

Chief executive Stephen Glancey said: “Despite the current political uncertainty the group is increasingly well positioned going into 2019. The new management teams and colleagues at Matthew Clark and Bibendum have delivered an exceptional operating performance over the key Christmas period.

“With service levels restored, we now have stable platforms with real growth potential and unparalleled market access to the UK on trade. In Scotland and Ireland our combination of leading brands and distribution assets is highly resilient, cash generative and delivering growth.

“With a strong balance sheet and normalised cash flow conversion… we are poised to provide enhanced returns.”