C&C fights more sterling headwinds since UK general election

The Bulmers, Magners and Tennent’s drinks firm, C&C Group, says it is seeking further savings and exploring the potential for contract manufacturing as the pressure on sterling following the unexpected outcome of the UK general election last month continues to weigh.

C&C has been exposed to the 13.5% drop in the value of sterling against the euro since the UK voted to leave the EU over a year ago.

It means it makes less money when the revenues generated from the sales of its drinks in the UK from a weakened sterling are translated into euro.