Drinks firm C&C said trading conditions were mixed in the first quarter of the year, with weaker trading conditions in Ireland and Scotland offset somewhat by progress in England and Wales.
In the three months to May 31st, the group said its core Ireland and Scotland markets faced a number of challenges, as unseasonably cold weather and tighter regulations on drink-driving in Scotland impacted trading. C&C said the rural/community pubs in Scotland appeared to have been disproportionately affected by the change in regulations.
“Whilst the weak trading environment and the final phase of Wallaces integration in Scotland may mean a short term trading dip in our core markets, we continue to invest for the long term,” the company said in a statement.
The group, which makes Bulmers, Magners and Tennent’s, said its C&C Brands business in England and Wales traded in line with expectations in the first quarter, while shipments in the US were up quarter on quarter.
“The US cider category remains highly attractive and the group is firmly committed to capitalising on its long-term growth potential.”
The group’s export business put in a solid performance, geting off to a good start in Europe, Asia and Australia.
Looking ahead, C&C said its fiscal year 2016 was one of stabilisation and investment, and it expected a gradual improvement in core market performance as the year progresses.
