OPERATING AND STRATEGIC HIGHLIGHTS

Recovery trend continues in Magners GB with year on year volume growth of 3.6% reflecting an outperformance relative to the growing cider category.

Robust performance for Bulmers in ROI against a challenging backdrop with earnings, in a deflationary environment, remaining relatively flat despite a 2.4% year on year volume decline.

Export volume growth of 34% year on year - market data suggest that cider as a worldwide category is enjoying growth of circa 8%, implying double-digit growth for territories outside the UK and Ireland.

One of the world’s top three cider producers and well positioned to fully participate in category growth.

Operating margin broadly unchanged despite the increased weighting of the lower margin acquired businesses.

Strong well invested brands – driving maintainable profit growth.

Acquired businesses integrated with minimal customer disruption, a strong first year contribution from Tennent’s and on track for delivery of synergy targets.

Strong cashflow generation and low levels of net debt leaves the Group well placed to support continued business investment and exploit any strategic or development opportunities which may arise.

 

 




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REVENUE €789.7M - OPERATING PROFIT €100.5M - FREE CASH FLOW €106.8M - BASIC EARNINGS PER SHARE 93.4C - ADJUSTED DILUTED EARNINGS PER SHARE 25.4C