C&C to update on trade after Innis & Gunn deal – Daily Business

Roger White, C&C CEO, said trade has softened after the November budget

C&C Group, the Irish company behind Tennent’s, is expected to update on trading conditions and its recent acquisition of another Scottish brewer, Innis & Gunn, when it reveals full-year figures on Tuesday.

The Dublin company announced in March that it had bought the Innis & Gunn brand and associated intellectual property in a pre-pack administration for £4.5 million.

C&C already brews Innis & Gunn products at Tennent’s Wellpark Brewery in Glasgow and expects the acquisition to make a small positive contribution to its overall financial performance in full-year 2027.

It was revealed last month that loss-making Innis & Gunn owed creditors almost £20m when it collapsed.

In January C&C cut its profit forecast amid “weak” consumer confidence in the UK after reporting that it had been hit by “weak consumer confidence associated with the November UK Budget”. There had, the company said, been “softer than anticipated demand” in the hospitality sector.

Last week it announced it has merged its Matthew Clark and Bibendum businesses to “simplify” its on-trade distribution operations.

A “small number” of staff have left as part of the move, which the group said would be completed this summer.

Matthew Clark distributes products including beer, wine and spirits to UK on-premise clients. Bibendum focuses on wine.

M&S

Investors will be hoping M&S can draw a line under last year’s cyber-attack and provide a confident outlook, reaffirming the retailer’s turnaround, say AJ Bell’s analysts.

A material slowdown in the UK clothing market in the March quarter has not been helpful which is reflected in the shares recently plumbing new 12-month lows.

The recent acquisition of the former ASOS Lichfield warehouse is seen as a sign of management’s ambition to accelerate digital growth and scale.

M&S Food continues to show strength, consistently taking market share through premium convenience, innovation and a perception of value for money. Analysts will be keen to see healthy volume growth rather than price driven gains.

DIARY

Monday 18 May

Rightmove house price index

Tuesday 19 May

Full-year results from C&C Group, Cranswick

UK unemployment and average earnings for March

Wednesday 20 May

Full-year results from M&S, Experian and Currys

UK inflation data for April

Thursday 21 May

Full-year results from Tate & Lyle, BT

Half-year results from Sage and EasyJet

Friday 22 May

CBI Scotland spring lunch, Edinburgh

GfK Consumer Confidence for May

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