Tennent’s owner C&C toasts rise in profits
The Tennent’s owner, which also makes cider brands Bulmers, Gaymers and Magners, reported a profit of €126.7 million (£103.3m) for the year to 28 February, on revenues 30 per cent higher at €620.2m.
Chief executive Stephen Glancey said: “Macro conditions in Ireland and the UK are gradually improving and our businesses are well positioned to benefit from improved consumer sentiment in these key markets.
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Hide Ad“In the UK, the broader cider market remains competitive and commoditised. We are focused on building a portfolio of authentic, traditional high quality ciders targeting the premium, and craft segments of the market.”
C&C bought a 50 per cent stake in Irvine-based wine and spirit wholesaler Wallaces Express in March, and has since bought the remaining half of the business.