Fine weather helps boost C&C revenues by nearly 30%

Drinks giant C&C has reported a near 30% year-on-year increase in first half revenues, driven by a weather-boosted strong performance from its Irish operations.

The good summer weather wiped out a disappointing first quarter and helped boost group net revenue — for the six months to the end of August — by 27.8% to €336.7m; operating profit (before exceptionals) rising by 8% year-on-year to €71.1m. Total operating profit — after exceptional items — amounted to €55.6m, down from €65.8m for the same period last year. Adjusted earnings per share increased by 1% to 16.3c and management has reiterated its full-year forecast of operating profit within the €125m to €132m range.

Pre-tax profit for the six months came in at €50.5m, post-exceptional items, but on a pre-exceptional basis was up by €2m at €66m.