| Dublin, London, 28 February 2007: C&C Group PLC ('C&C' or the 'Group'), a leading manfacturer, marketer and distributor of branded beverages in Ireland and the U.K., today issued the following trading statement for the year ending 28 February 2007. Preliminary results, for the year ending 28 February 2007, will be announced on 9 May 2007.
Financial Overview
Turnover growth from continuing operations in the year ending 28 February 2007, compared with the same period in 2006, is expected to be approximately 25%. The group's overall operating margin is expected to increase by approximately six percentage points for the full year notwithstanding significantly increased marketing investment in the period.
This performance reflects continued strong growth in the Cider division, primarily as a result of the excellent performance of Magners in Great Britain and Bulmers' continued out-performance of the Irish LAD market.
As previously indicated, due to capital expenditure associated with cider capacity expansion and investment in working capital (including a build up of fresh juice stock) FCF/EBITDA for 2006/07 will be significantly reduced. This ratio is expected to be close to 30% for the year.
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