C&C Group plc (CCR.L), a vertically integrated premium drinks company, said it expects to report underlying EBIT for fiscal year 2025 in the range of 76 million euros - 78 million euros, which modestly below its target due to softer trading across the market in January and February. This reflects a significant recovery versus the prior year's earnings of 60 million euros.
In its trading update for the twelve months ended 28 February 2025 or fiscal year 2025, the company projects annual operating margins to be ahead of fiscal year 2024 with positive progress in both Branded and Distribution businesses.
The Group has increased customer numbers growing 7% in the second half of fiscal year 2025 in its Matthew Clark Bibendum distribution business, reflecting further improved and consistently high service levels.
The company expects group revenues for fiscal year 2025 to be in line with last year reflecting growth in its Distribution business offset by the impact of the disposal of non-core soft drinks business in Ireland, the strategic exit of low margin contract brewing volume and softer GB cider sales during the important summer trading period.
The company noted that it has distributed 51 million euros, comprising dividend payments of 21 million euros and share buybacks of 30 million euros. It intends to commence a further 15 million euros share buyback program on 1 May 2025.
Looking forward, the company expects to see continued uncertainty for consumers alongside the impact of the well documented challenges of the hospitality sector. It remains confident in the longer-term and will further invest in customer proposition, brand innovation, systems and people. This underpins the Board's confidence in its ability to achieve sustainable, long-term profitable growth.
The company expects earnings in fiscal year 2026 to be marginally ahead of fiscal year 2025, reflecting ongoing investment in the business to enhance our growth potential. The Group remains well-positioned to navigate these challenging conditions and previously stated objective to deliver 100 million euros EBIT remains in place over the medium-term.
The company said it will provide further details in its full-year results announcement on 28 May 2025.
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