C&C backs guidance as it delays FY results

C&C GroupSharecast graphic / Josh White

C&C Group (CDI)

175.20p

16:59 20/05/24

-0.79%

-1.40p

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.

Beverages

22,538.92

17:14 20/05/24

-0.15%

-33.30

FTSE 250

20,873.33

17:14 20/05/24

n/a

FTSE 350

4,637.24

17:14 20/05/24

n/a

FTSE All-Share

4,590.38

17:13 20/05/24

n/a

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.