Bulmers maker C&C sales boosted by hot summer
Bulmers maker C&C has reported a 28pc increase in first half half sales to €336.7m boosted by the hot summer.
Shares in the company gained over 2pc today as the company reported operating profits were up 7.9pc in the six months to August and an improved trading performance in domestic markets in the second quarter of the year.
C&C added that significant progress has been made in the integration and repositioning of its US cider business.
In addition, it re-affirmed its full year guidance of an operating profit of €125m to €132m.
Reflecting continued performance, the company is proposing an interim dividend increase of 7.5pc to 4.3c.
Following a weak first quarter and a transitional period for C&C following a number of acquisitions, the company's performance in domestic markets improved in the second.
"While we continue to focus on operating efficiency, operating expenses in the period include significant investment in future areas of growth including Shepton Mallet Cider Mill and our US cider business," said Stephen Glancey, C&C group chief executive.