Bulmers owner C&C 'cautiously optimistic' on recovery despite delay to indoor hospitality

Beer and cider maker is encouraged by its trading profit which improved in May and June

Irish-based cider and beer maker C&C has said it remains “cautiously optimistic” about future trading and a recovery in the hospitality sector, despite the Government this week shelving plans to reopen indoor drinking and dining.

Shares in the group — which makes the twin Bulmers and Magners cider brands, along with the Five Lamps and Tennent’s lager brands — jumped by nearly 4% on the back of it telling investors at its agm that it saw a “modest” trading profit in May, with this improving further in June.

'Encouraged' by recovery in business 

C&C’s core markets remain Ireland and the UK and the group said it has been “encouraged” by the recovery in trade since Britain started reopening its hospitality sector in April. It said it has also benefited from the reopening of outdoor hospitality in Ireland.

Restrictions remain in both markets, with the full reopening of UK hospitality anticipated this month, but no date yet fixed for the return of indoor consumption in Ireland.

C&C’s new chief executive David Forde said, in May, that the group should return to profit this year on the back of hospitality reopening, even under certain restrictions.

As much as 80% of C&C’s sales come directly from the on-trade.

"Despite restrictions still in place and confirmed delays to full reopening, we remain cautiously optimistic about the gradual recovery of the hospitality sector in our core markets of the UK and Ireland, and we look forward to continuing to support our customers as restrictions are removed," Mr Forde said.