| C&C GROUP PLC
PRELIMINARY ANNOUNCEMENT OF RESULTS
FOR YEAR ENDED 28 FEBRUARY 2007
Dublin, London, 9 May, 2007: C&C Group plc (‘C&C’ or the ‘Group’), a leading manufacturer, marketer and distributor of branded beverages in Ireland and the UK, today announced its results for the year ended 28 February 2007.
Financial Highlights
- Revenue (i) growth of 27% to €981.4 million.
- Operating Profit (i) growth of 77% to €212.6 million.
- Operating Margin increase of 6.1 percentage points to 21.7%.
- Adjusted EPS growth of 84% to 54.9 cent; basic EPS of 63.8 cent.
- Final proposed dividend of 15 cent per share; total dividend of 27 cent per share – an increase of 80%.
- €150 million share buy-back announced.
- Free cash flow of €71 million before disposal of Snacks division (30% of EBITDA).
- Net debt reduced by €78 million to €305 million.
Operating Highlights
- Achieved national distribution for Magners in Great Britain - delivering a GB On Trade LAD(ii) market share of 1.7% (iii) and turnover weighted distribution of 67% (iii).
- Cider manufacturing capability transformed by major capital investment programme.
- Increased Bulmers’ market share of the Irish LAD market by 50 bps to 10.5%.(iv)
- Tullamore Dew volume depletions (v) increased by 16%.
- Soft Drinks operating margin increased by 1.5 percentage points to 8.3%.
(i) Comparisons are for continuing operations before exceptional items and are on a constant currency basis.
(ii) Long Alcohol Drinks (Beer, Cider, RTD’s).
(iii) Moving Annual Total (MAT) to Jan 2007 per A.C. Nielsen.
(iv) Revenue Commissioners (Cider/Beer)
(v) Defined as sales by distributors to customers.
Performance Highlights
Maurice Pratt, C&C Group Chief Executive Officer commented, “C&C is pleased to report continuing earnings growth and progress against all financial measures. We will continue to invest in the sustainable growth opportunities presented by Magners, Bulmers, and Tullamore Dew”.
Please view the attached pdf for the full Preliminary Announcement of Results |
