C&C profits fizz up 13%

ISEQ-listed food and drink manufacturer, marketer and distributor C&C has reported operating profit up 13% to €124.7m for the year ended February 28, 2006.

Revenue was up 9% to €817m.

Adjusted earnings per share (EPS) were at 29.9c, an increase of 15.9%.

The company’s net debt was reduced by €58m to €383m.

Volume of the group’s Irish cider brand, Bulmers, increased by 6% against an Irish market growth of about 2%.

Volume of the group’s international cider brand, Magners, increased by 130%.

Chief executive Maurice Pratt said: “C&C is pleased to report continuing revenue and earnings growth. We will continue to invest in the sustainable growth opportunities presented by Magners, Bulmers and Tullamore Dew.”