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Mar 23 2020, 07:30 GMT
C&C’s COVID-19 update confirms that management is taking proactive actions against an unprecedented operating backdrop. The group has an estimated €350m of cash on hand with further liquidity levers available. Its cost base has a high variable component with management addressing other cost levers and capital expenditure. We believe that C&C is well-positioned to withstand an anticipated material decrease in business activity during 2020.