C&C backs guidance as it delays FY results
C&C Group (CDI)
171.80p
16:40 03/06/24
Bulmers, Magners and Tennent’s owner C&C Group reaffirmed its annual guidance on Friday as it said full-year results will be delayed as additional time is needed to complete a review of certain non-cash accounting measurements relating to previous financial periods.
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The results had been due on 23 May.
The company, which also owns Orchard Pig and Heverlee, among others, continues to expect FY2024 underlying operating profit of around €60m, in line with current market expectations.
"With increasing confidence in the medium-term outlook for the business, together with its strong cash generation and conversion, C&C also re-affirms its intention to return €150 million to shareholders over the next three years within its stated leverage range," it said.