Bulmers owner C&C Group saw its revenue slide 4% in the first half of the year after it restructured a deal with AB InBev over the distribution of its beer and cider.
The deal saw C&C reassume full control over its cider portfolio in Great Britain in January while transferring control of its off-trade beer portfolio to an AB InBev subsidiary in the Republic of Ireland.
The group will now need to stabilise under a new financial chief after its current chief financial and transformation officer, Andrew Andrea, announced he was leaving for Domino’s Pizza after just 18 months at the company.
He will remain in post until the end of the current financial year, leaving no later than 13 March 2026.
“Andrew joined the business during challenging times and has, through his experience and capabilities, played a significant role in the stabilisation and improvement of the business,” said CEO Roger White.
C&C’s transformation is still yet to fully stabilise under White, who took the helm in January after joining from AG Barr.
Magners is a key focus, with C&C taking steps to “reinvigorate” the brand after regaining control. While this has led some initial brand distribution gains in the off-trade so far this year, these were offset by “continued challenges” in retail.
Matthew Clark, the group’s off-trade distributor, also saw revenue fall due to lower volumes. C&C said this was “in line with market trends, especially within the wines and spirits categories”.
The group’s two other key brands, Tennent’s and Bulmers, both achieved revenue growth, it added.
In a short trading update, the group said its underlying operating profit for the full year is expected to fall between €41.5 and €42.0m, in line with our expectations.
“Despite the challenging macroeconomic backdrop, we will continue to invest in the business to improve performance, support growth and ensure we deliver for all our customers and consumers,” the company said.
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