C&C Group has renewed efforts to revitalise the business, as sales sank 5.7% in the year to 28 February 2026.
C&C turned over €1.6bn in the year, with part of the decline reflecting a planned exit from Budweiser Brewing Group’s contracted volumes in the Republic of Ireland.
But “challenging” hospitality market conditions have continued to squeeze C&C’s wholesale platform, which in early May 2026 the group announced would be combined under the name Matthew Clark Bibendum.
C&C told investors this morning that it had decided to move away from its previous ‘One C&C’ strategy, to move towards two distinct operating models. Focussing on growth for its brands, including Tennent’s and Bulmers, it will chase margin recovery in Matthew Clark Bibendum.
CEO Roger White said the company had made “demonstrable progress” over the last 12 months, as it restructured its corporate model and retuned its logistics.
“Having established the best route forward for C&C Group to create value and having done much of the preliminary enabling work required, we now look forward with a renewed focus and drive to deliver the necessary change and improvements we have identified to support our value creation ambitions,” he said.
“We will continue to develop the growing C&C Brands portfolio, with our brand innovation pipeline now firmly established.”
Both Bulmers and Tennent’s won net revenue growth last year, and alongside growth in C&C’s premium portfolio offset a general decline in cider sales. The group also acquired Scottish craft brewer Innis & Gunn out of administration in March 2026.
While C&C group’s EBITDA fell €7.7m to €104.3m, and pre-tax profit to just £49.8m, the declines were in line with analyst expectations.
”C&C’s performance reflects a combination of structural and cyclical headwinds, with the planned exit of Budweiser Brewing Group volumes in Ireland reducing distribution scale, alongside a soft GB on-trade backdrop and a continued mix shift away from higher-margin wine and spirits into beer and cider,” said Barclays analyst Laurence Whyatt.
The headwinds have left C&C little leverage with which to boost profits, despite its action to cut cost its cost base.
But Shore Capital analyst Greg Johnson added that the move towards a split between branded business and Matthew Clark Bibengum should “bring greater transparency” to investors.
Trading since the end of the financial year has been in line with expectations, C&C said. Despite uncertainty over the macro environment, the company said it has “strong plans” in place, including a hefty promotional programme, to help drive growth.
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