<\/p>\n
Roger White said Tennent\u2019s held its market share<\/p>\n
Tennent\u2019s owner C&C Group said financial performance for the past year was below expectations as saw revenue and profit slipped.<\/p>\n
The Dublin-based group said current conditions mean \u201cforecasting consumer behaviour and demand is challenging for all\u201d.<\/p>\n
Notwithstanding this uncertainty, the group said it has strong plans in place across the business, and currently expects to meet full-year financial objectives.<\/p>\n
Tennent\u2019s and Bulmers cider maintained their market leading positions. <\/p>\n
Profit before tax for the year to the end of February fell to \u20ac49.8m from \u20ac55.9m last time. Group revenue came in at \u20ac1.57bn, down from \u20ac1.67bn. It is proposed that the dividend is cut to 3.67 cents from 4.13 cents.<\/p>\n
Chief executive Roger White said the company was operating \u201cin a period of heightened uncertainty\u201d.<\/p>\n
He added: \u201cWe have made demonstrable progress in multiple areas across the group in the past 12 months and now have a more stable operating platform from which to build.<\/p>\n
\u201cHaving established the best route forward for C&C Group to create value and having done much of the preliminary enabling work required, we now look forward with a renewed focus and drive to deliver the necessary change and improvements we have identified to support our value creation ambitions.<\/p>\n
\u201cWe will continue to develop the growing C&C brands portfolio, with our brand innovation pipeline now firmly established. We anticipate a series of exciting brand initiatives and a strong promotional programme across the key summer months.\u201d<\/p>\n
In March 2026, the group acquired long term partner Innis & Gunn whose beers it brews at the Wellpark Brewery in Glasgow.<\/p>\n
Mr White said: \u201cThe integration of Innis & Gunn into our operating and commercial footprint was delivered seamlessly in the weeks following completion and serves to highlight the capacity and capability to integrate and create valuable synergies from the right opportunities. <\/p>\n
\u201cWe expect to develop this premium craft ale and lager brand further across FY2027.\u201d<\/p>\n
Speaking later to Daily Business he admitted that the wholesale business had seen a difficult period as customers turned away from wine and spirits to more beer which is a lower margin business.<\/p>\n
\u201cLast year was not a year we might have wanted. We made a lot of progress but not what we hoped for,\u201d he said.<\/p>\n
The company is hopeful of an upturn from the World Cup, particularly as Scotland has qualified alongside England.<\/p>\n
The popularity of its new Tennent\u2019s Bavarian Pilsner, introduced as a \u201cbrand teaser\u201d could become a permanent feature of the portfolio. <\/p>\n
\u201cIt will show that the brand is more than just a big yellow can,\u201d said Mr White.<\/p>\n
\t #Tennents #owner #sees #slip #performance #Daily #Business<\/p>\n","protected":false},"excerpt":{"rendered":"
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