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Thu 4th Jul 2019 - Update: C&C Group, Stonegate Pub Company
C&C Group reports ‘solid start’ to current financial year: C&C Group, the drinks company which manufactures, markets and distributes branded beer, cider, wine, spirits, and soft drinks across the UK and Ireland, has issued a trading update covering the period from 1 March 2019. The company stated: “The group has made a solid start to FY20 with trading to date in line with current market expectations. Further details of performance and targets are outlined in the Capital Markets Day section of C&C’s website. Following from the acquisition of Matthew Clark and Bibendum, a majority of the group’s revenues, earnings and activities are now derived in and from the United Kingdom. Consequently, C&C is now seeking inclusion in the FTSE UK Index Series. In order to facilitate the entry into the FTSE UK Index Series, C&C intends to apply for the cancellation of the listing and trading of C&C shares on Euronext Dublin in due course. C&C is currently listed and traded on the premium segment of The London Stock Exchange. C&C will remain domiciled and tax resident in Ireland, with its registered and corporate head office located in Dublin. Moreover, the group retains a significant manufacturing, commercial and brand presence in Ireland. We have been brewing Tennent’s in Scotland since 1885 and making Bulmers in Ireland for more than 84 years. Our apples are sourced only from Ireland’s orchards and our barley entirely from Scotland’s farms. The sustainability of land and water sources is critical not only to our business but the consumers we serve. In Ireland our manufacturing business is already carbon neutral and 40% of energy is from renewable sources. In Scotland we are targeting carbon neutrality in manufacturing by 2025 and across all markets we are pledging to eliminate one way plastic within two years and all plastic by 2025. Our water usage in production is best in class and this year we have invested a combined €6m in a water treatment facility in Glasgow and aquifer protection in Clonmel, County Tipperary. This year we will invest a further €3m in CO2 capture capability at the Wellpark brewery.” Stephen Glancey, group chief executive, said: “FY19 was a transformational year for the group. The acquisition and subsequent performance of Matthew Clark & Bibendum contributed to earnings growth of over 20%. Reflecting the inherent strength of the C&C business today, our objective is to again deliver double digit EPS growth in FY20. Thereafter, we will target EPS growth in a mid to high single digit range.” 

Stonegate Pub Company reports 69% sales uplift during England versus USE semi-final: Stonegate Pub Company has reported sales rose 69% during England’s World Cup Final against the USA. Marketing director Nicola Pryce said: “At Stonegate we pride ourselves on our sites being the best places for the UK’s sports fans to cheer on their favourite teams and the Women’s World Cup (WWC) has been no exception. Inclusivity is at the heart of our business and we are proud of our history of helping nurture the market for women’s sports watching in the UK. All of our sites with the capability to screen WWC matches have been doing so and on last Tuesday’s Semi Final match, where the Lionesses sadly lost to the USA, we saw an overall sales uplift of +69% reflecting England fans growing and passionate support for the team. Additionally, this match was the first time Women’s football has entered the top 25 sporting occasions for us in terms of sales uplift over the course of a season – roughly equivalent to the North London Derby between Tottenham and Arsenal. We are constantly innovating our sports-led entertainment offer with the goal that our pubs and bars are the next best place to the stadium to experience the atmosphere and excitement of a match. With sports that may not have as significant a following, we like our teams to host viewing parties so like-minded fans can come together and celebrate their side’s performance. Several of our sites hosted Lionesses viewing parties on Tuesday, including one of our leading sports pubs, Famous Three Kings, Fulham. Consequently, that pub saw a staggering sales uplift of +265%. We don’t see the WWC as a flash in the pan either. We are committed to screening Women’s sports across our estate and growing the audience and market for them. We hope to build on the positive momentum of this year’s tournament in the run up to the 2021 UEFA Women’s Championship in England.” 

Elton Mouna on talkRADIO Business Breakfast Show: Propel Summer Conference presenter Elton Mouna will appear on the James Max Business Breakfast Show on talkRADIO this Friday at 6am. Elton, managing director of the privately owned east London-focused pub company Remarkable Pubs, regularly appears on the national radio station talkRADIO discussing the hospitality sector. This Friday he will discuss the rising popularity, and threat to the casual dining sector, of food markets together with the unintended consequence of over innovation in the gin sector. 

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