C&C reports "weaker than expected" trading in first quarter
Irish drinks company C&C has reported weaker than expected trading conditions in its first financial quarter.
In an interim trading statement, which covers the period from March until now, published ahead of its annual general meeting later today the Bulmers maker said its core markets of Ireland and Scotland were impacted by “unseasonably cold and wet weather”.
However, it added that C&C Brands, its business in England and Wales, had a positive first quarter, and is trading in line with expectations.
It said that first quarter shipments in the US were up year-on-year, although it noted that this was based against “soft” prior year comparisons.
The company said: “Following weaker than expected trading conditions in the first quarter, we anticipate a gradual improvement in core market performance as the year progresses.”