C&C Group PLC (LSE: CCR)

C&C Group PLC (LSE: CCR) is an FTSE 250 listed Company, which is engaged in the manufacturing and distribution of branded beer cider, wine, spirits, and soft drinks across the United Kingdom (UK) and Ireland.

FY23 Financial Highlights (for the twelve months ended 28 February 2023., released on 24 May 2023)

• Improved Performance: The volume growth of 4.2% and price/mix growth of 14.2% has resulted in 18.4% YoY growth in revenue to €1,689.0 million during FY23.
• Reduced Leverage: The Net debt to adjusted EBITDA stood at 1.3x at the end of FY23, representing a significant improvement from 3.4x reported at the end of FY22. CCR has a medium-term target of maintaining medium-term leverage ratio between 1.5x and 2.0x.
• Dividend Payments: CCR will pay a final dividend of 3.79 eurocents per share on 21 July 2023 with an ex-dividend date of 08 June 2023.
• Current Trading & Outlook: On the flip side, CCR expects a one-off impact of around €25 million associated with the ERP system disruption in FY24. Nonetheless, the Company remained confident regarding its medium and long-term strategy and prospects.

Share Price Chart

Markets are trading in a highly volatile zone currently due to certain macroeconomic issues and geopolitical tensions prevailing. Therefore, it is prudent to follow a cautious approach while investing.

C&C Group PLC (LSE: CCR)  was trading at the closing market price at GBX 135.40 (as of 24 May 2023).

Note 1: Past performance is not a reliable indicator of future performance.

Note 2: The reference date for all price data, currency, technical indicators, support, and resistance level is 24 May 2023. The reference data in this report has been partly sourced from REFINITIV.

Note 3: ‘Kalkine reports are prepared based on the stock prices captured either from the London Stock Exchange (LSE) and or REFINITIV. Typically, both sources (LSE and or REFINITIV) may reflect stock prices with a delay which could be a lag of 15-20 minutes. There can be no assurance that future results or events will be consistent with the information provided in the report. The information is subject to change without any prior notice.’

Note 4: Dividend Yield may vary as per the stock price movement.

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