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Davy Research

C&C

H1-25 trading update

Sep 9 2024, 07:15 IST/BST
Cathal Kenny
Company Report
7 page(s)

Sectors : Beverage

Companies : C&C

Ratings and price correct at time of issue.

C&C

Closing Price: 151.0p
RATING 30/06/09
OUTPERFORM
PREVIOUS RATING N/A

Person's Name

Cathal Kenny

Analyst

DAVY VIEW

Set against challenging market conditions, C&C expects to deliver H1 operating profit in the range of €39-41m (Davy f: €42.9m) and remains on track to deliver €80m for FY25, which is in line with our expectations. Notably, C&C and AB InBev have mutually agreed to restructure elements of its trading relationship, which will take effect in January 2025. The second €15m tranche of its share buyback programme will commence today.

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Sep 9 2024, 07:15 IST/BST