The drinks manufacturer delivered the growth despite poor summer weather and subdued market conditions.
C&C owns brands such as Magners, Tennent’s and Bulmers, as well as drinks wholesaler Matthew Clark and Bibendum.
For the period, net revenue declined by 3% group wide, but operating profit before exceptional items rose to €40.3m as operating margins improved to 4.7% with initiatives to drive group wide efficiencies now underway.
The group also completed the transition to a new depot facility at Orbital West, London, which helped facilitate subsequent service level improvements.
Looking ahead, C&C is on track to achieve €80m operating profit for its 2025 fiscal year, while it is targeting €100m in operating profit for the 2027 fiscal year.
Meanwhile, the recruitment process for a new CEO is underway after a turbulent period for the business, during which activist investor Engine Capital called for it to be put up for sale.
An agreement has since been reached with Engine, which relied on the appointment a new non-executive director to the board.
In-line with expectations
Commenting on the group’s H1 performance, chair and current CEO Ralph Findlay said: “I am pleased to report earnings in-line with expectations in HY2025 as we rebuild performance and momentum within the business.
“Despite unfavourable summer weather, our brands demonstrated inherent appeal and resilience with both Tennent’s and Bulmers growing market share and Menabrea and Orchard Pig achieving double digit revenue growth.”
Findlay also remarked on the strong performance of the group’s Matthew Clark and Bibendum operation.
“I am also encouraged that we achieved significant growth in distribution with customer numbers in August up 10% vs the prior year,” he continued.
“We continue to make improvements with regards to customer service, which underpins our customer acquisition strategy.
“As we enter the busy Christmas and New Year trading period, we are committed to delivering outstanding service, winning customers, continuing to simplify the business and to further improve operating efficiency.”
In other news, Food Manufacture has published its latest food and drink trends report, summarising all the hottest topics from 2024 with insight from a slew of industry figures.
