Tennent’s lager owner expects strong profit growth
C&C Group, the Irish-based drinks group behind brands including Tennent’s lager, said it expects full-year figures to come in towards the upper end of market estimates.
Positive trading momentum at its Glasgow-based operations was cited among the factors which will see earnings per share increase by around 20 per cent in the 12 months to 28 February.
Group debt is also now expected to be well below current market estimates. Results from the group, which also owns Magners cider, are due out on 22 May.
Ian Hunter, analyst at Investec, said: “Today’s trading statement provides encouraging reading, following the upbeat Christmas trading update. With positive momentum reported in the core business, in our opinion C&C is well positioned to deliver on its growth potential.”