Operating Profit was up 129% to €19 million compared to €8.3m in the previous H1 while the introduction of Minimum Unit Pricing helped in improving margins year-on-year despite the inflationary cost pressures being faced by the business.
C&C is the Number One drinks distributor to the UK and Ireland hospitality sectors, operating through the Matthew Clark, Bibendum, Tennent’s and Bulmers Ireland brands.
Volumes at the Irish subsidiary of the C&C Group were up 8.0%, of which Bulmers volumes showed growth of 10.9%.
e-commerce has also seen a considerable uptake from customers here.
“We are pleased to report that the revenue being captured online through our e-commerce platform was 71% of total revenue in August 2022 compared with 66% in February 2022,” states the company, “We continue to see higher order values online compared with traditional contact centre orders, with orders on average 15% higher.
“In the on-trade, the latest Bulmers MAT cider volume share at 63.8% reflects growth in Bulmers’ market share ahead of last year (up 0.9pp), however that also reflects significant growth vs pre Covid-19 levels (up 2.7pp). Bulmers continues to enjoy its position as the largest and most popular cider brand in Ireland.”
The company also pointed out that, “C&C took on the distribution of Budweiser in Summer 2020 and at the time the brand was in MAT lager volume share decline in the off-trade. As of August 2022, we are pleased to report that this has largely stabilised with Budweiser MAT off-trade volume share at 10.1% compared with 9.9% in August 2021. ”
Pre-tax profits at parent company the C&C Group rose to €47 million, up from €7.1 million in H1 last year.
At €903 million overall revenue was up 37% on the €657m figure for H1 the previous year.
This led to Group Operating Profits of €55 million, up from €19 million.