Latest news with #Tennent's
Irish Independent
3 days ago
- Business
- Irish Independent
C&C must get ‘back to basics' on brands, says CEO of Bulmers firm
Roger White, who has been in post for 132 days, said criticism that C&C's branded drinks portfolio, which also includes Tennent's lager, had been stagnant for some time 'were valid'. 'I think it is an indication that we need to love what we have got a bit more first,' he told the Sunday Independent. 'I think the criticism, as you suggested, is valid. I don't think we have done anything of any material nature to stretch the brands we have got, to develop them to bring customers and consumers anything new and exciting. 'It doesn't need to be strategically earth-shattering, just stretching Bulmers and Tennent's,' he added. 'These are brands that can carry innovation, that can carry new things into the market, that can carry limited editions. They just need a bit of 'new news'. We need to keep them fresh and at the centre of consumers' minds.' White said the UK-listed drinks group had a strong balance sheet capable of making acquisitions. However, this was not his 'primary objective' at the moment, with the current focus on improving what C&C already owns. 'I think it would be stupid of me to say that we are definitely not doing anything because we have got the financial capacity, and if the right thing comes along that creates the right amount of value for shareholders, then it is incumbent on us to fully review it,' he said about acquisitions. 'But it is not our primary focus.' White was speaking after C&C released its results for the year ended February 28. While revenue was flat at €1.66bn, pre-exceptional operating profit jumped 29pc to €77.1m, with Tennent's and Bulmers securing market share gains. The positive results come after a turbulent period for C&C. Last year, the Bulmers maker's former CEO, Patrick McMahon, stood down following accounting errors at the company. Shareholder Engine Capital also called for a sale of the business, describing it as a 'perennial underperformer'. White said C&C's results for the year were 'solid rather than outstanding' as the business looks to bounce back from previous problems. 'I think this is a bit of a recovery year,' he said. 'We are happy that we put in a solid, resilient performance across the group. It is good to see customer service levels across our business recovering, giving our customers increased levels of support. 'My focus is really on simplification, focusing on execution, getting everybody focused on their customers and trying to get hold of what are great brands and make them even better by developing them and bringing something new to customers in all our markets. Something that is valuable to them, tangible and will improve all their businesses.' Asked what the market could see C&C do with its brands, White said some examples could include enhancing its low and no-alcohol offerings and bringing 'excitement and interest both in the liquid and the packaging to bear'. Magners, the UK equivalent of Bulmers, is currently undergoing a revamp in the market. White said this would include a new marketing campaign, refreshed packaging, and improving the zero-alcohol proposition 'in the short term'. 'I don't think there is any particular rocket science,' he said. 'It is just giving the brand the love it needs. 'It is a brand with lots of equity. So consumers know the brand, they recognise it, and there is no awareness issue with it. We just need to move it back up their purchase intent. That is about getting front of mind and reminding people what is great about the brand.' C&C also owns the Five Lamps lager brand in Ireland, which has been marketed as a Dublin-brewed craft beer-style product. The craft beer industry has undergone its own challenges in recent years. How will C&C enhance the Five Lamps brand? White said there was 'work to do'. 'We need to be really clear how we are going to support and get behind some of these smaller brands like Five Lamps. I think the product is good. 'If I was brutally honest, I don't think there has been a particularly well-thought-through plan of how we are going to grow and develop some of these smaller brands.' Following last year's calls from Engine Capital for C&C to sell some of its assets, the drinks group struck a deal with the US-based activist investor that would see it appoint a new non-executive director. I've still got to fully understand how the business all works, how it all fits together White said there are no reviews about selling brands. 'As far as I'm concerned, we have got a clean slate. From my point of view, that is why I took this job. I've still got to fully understand how the business all works, how it all fits together, what we can do with our brands and how we can create value over the long term for shareholders. 'I would say I have plenty of work to do to get my head around that. But, we are focused on the basics just at the minute.' Looking to the year ahead, there appears to be some optimism around C&C, reflected in its share price jumping by over 3pc in London at one stage following its results announcement. We have had a nice few weeks of weather, which always makes you feel a little bit better White, who was the boss of Irn Bru maker AG Barr, is well-versed in leading a business through a period of transformation. He is now looking forward to working on his plan, no matter the challenges that come his way. 'We have had a nice few weeks of weather, which always makes you feel a little bit better about life,' he said. 'It has been an encouraging start to the year. But, we are still very conscious that hospitality in all geographies is tough.'
Scottish Sun
3 days ago
- Business
- Scottish Sun
The average price of a pint rises AGAIN across UK – how much more are Scots paying?
Scots will have to cough up more than a hangover for a trip to the pub as prices increase again. OH BEER The average price of a pint rises AGAIN across UK – how much more are Scots paying? A TRIP to the pub will cost Scots more than a just hangover as punters are being forced to cough up more than ever. The average price of a pint has now soared to £5.17 across the UK, leaving a bitter taste in punters' mouths. 1 Pint of beer next to a map of the UK highlighting a region. In February we reported how Scotland saw the biggest percentage price increase across the whole of Britain. Now it has gone up again with the cost increasing by 34p compared to figures reported by the Office for National Statistics at the start of the year. Beer prices have risen sharply as manufacturers and pubs grapple with higher alcohol taxes, soaring utility bills and increased staffing costs. Trade magazine The Morning Advertiser regularly examines the average cost of a pint across London, the Midlands, the North East, the North West, the South East, the South West, Scotland, and Wales. According to its latest research, London tops the list for the priciest pints, with pub owners charging an average of £6.10. On the more affordable end of the scale, Tennent's and Carlsberg emerged as the cheapest options, with drinkers paying an average of £4.23 per pint across England, Wales, and Scotland. UK pub numbers have now plunged by more than 2,000 since the start of 2020. A number of breweries are facing trouble too, including the Fourpure brewing company which appointed administrators in October and the Magic Rock Brewery which said it would bring in administrators at the start of the year. Meanwhile, Carlsberg Marston's Brewing Company (CMBC) said in November it would stop making eight classic British cask beers following a review. A number of pubs also warned they would have to hike prices for customers this year after the Government's Autumn Budget. Stunning beer prices at Miami GP revealed as F1 fans face staggering cost for drinks, steak sandwiches and pizza Employer National Insurance Contributions (NICs) and the national minimum wage both rose in April. But businesses cautioned this would force them into upping the price of drinks as they try and absorb the extra costs.
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Scotsman
4 days ago
- Entertainment
- Scotsman
I tried Dublin Street Social and had the best brunch I've had in a long time
Since opening last month, Dublin St Social has proven popular with customers thanks to its brunches and small plates. So we thought we'd pop along and see what all the fuss was about. Sign up to our daily newsletter Sign up Thank you for signing up! Did you know with a Digital Subscription to Edinburgh News, you can get unlimited access to the website including our premium content, as well as benefiting from fewer ads, loyalty rewards and much more. Learn More Sorry, there seem to be some issues. Please try again later. Submitting... The bar-bistro is just a short walk from Princes Street, making it really handy if you want to avoid the super busy areas of the New Town. It has a great outdoor seating area that would be perfect for sitting with a drink and watching the world go by, but instead I headed inside to see how their food fared. Offering both small plates and a brunch menu, there's plenty to choose from. Because it was a solo visit, I picked the Scottish Stack from the brunch menu and I have to say it was one of the best Scottish breakfasts I've had in a long time. Advertisement Hide Ad Advertisement Hide Ad At £14, you are paying a premium for that quality, but it's worth it if you're looking to treat yourself. The stack had a good portion of bacon, black pudding, haggis, a tattie scone and a sausage patty all topped with an egg that's cooked to your liking. Inside Dublin St Social bar and bistro in Edinburgh's New Town. | Dublin St Social I'm generally quite fussy when it comes to black pudding and extremely fussy when it comes to things like a sausage patty, but on both fronts you could tell just how good the quality was. The egg, which I chose to be fried, was also cooked really well and not over done as can often be the case. I washed it down with a Staropramen, which I picked from a long list of lagers - I counted around half a dozen from the list that the waiter offered - with all of them premium lagers, except the old faithful Tennent's. Advertisement Hide Ad Advertisement Hide Ad If I'd have been choosing from the sharing plates, I'd definitely have been struggling to pick just a few. They've got a great selection, including chorizo and manchego croquettes and a cider-braised pork cheek and Stornoway black pudding bon bon. The vibe of the restaurant felt quite laid back, however it was around lunchtime when I visited and it was on the quiet side. It's easy to see how, on an evening that was full that it could have a completely different vibe. The staff inside were super friendly and helpful, which goes a long way. So I'd definitely say Dublin St Social is one to add to your list. Speaking shortly after opening, owner Anna McShane, 23, said that she hoped that the intention was to offer good food at a good price, and if my first visit was anything to go by then I'd say she has achieved that. Advertisement Hide Ad Advertisement Hide Ad She said: 'We offer nice, well-priced small plates with wines to suit the food. It's very good food at very good prices and the location is phenomenal, with outside seating for 14 people also. 'It's a nice offering here, with a great range of beers too, not just wine. All the food is Scottish produce, we try to do as much as possible to support local businesses. We are very Scottish-orientated, apart from the wine of course.' Dublin Street Social 26B Dublin St, Edinburgh EH3 6NN
Irish Independent
5 days ago
- Business
- Irish Independent
Cider maker C&C hopes for a long hot summer as shares rise and annual profits hit €77m
But the company has warned that consumer confidence in the UK and Ireland 'remains subdued' and the prospect of US tariffs 'add further uncertainty'. Revenue at the group, which also owns brands including Tennent's, Orchard Pig and Five Lamps, was flat at €1.66bn for the year ended February 28. Its pre-exceptional operating profit jumped 29pc to €77.1m however, which was also in line with analysts' forecasts. The drinks firm saw Tennent's and Bulmers secure market share gains during the year, it noted. The key summer trading period lies ahead, and tourism always helps sales In Ireland, C&C said that on-trade volumes of long alcoholic drinks were in line with last year's numbers, with value growth of 9pc that reflected pricing activity and growth. 'The market saw a shift towards stout, premium beer and ready-to-drink categories, with standard lager and cider seeing share declines,' it added. 'Positively, tourism provided a welcome tailwind to the industry, with international visitor spend estimated to have increased 13pc in the year.' In the off-trade sector, long alcoholic drink volumes fell 5pc (2pc by value). Cider category volume and value declined 6pc and 3pc respectively in the year. 'The large supermarket operators have responded with increased targeted advertising campaigns and deep discounting promotions as actions to stimulate category volume,' noted C&C. C&C also owns the Matthew Clark-Bibendum distribution business in the UK. It said the unit saw 'recovering customer momentum' in the year, with numbers of customers up 8pc. ADVERTISEMENT Despite the group's optimism for 2025, it said that total employment costs in the UK will rise in the coming year – due to the increase in Britain's national minimum wage, and in employer national insurance contributions. It said the planned Extended Producer Responsibility Levy in the UK, a tax on producers' packaging, will also have an impact. Tax and the Deposit Return Scheme that is already in effect in Ireland 'will cause further price inflation, as these costs and taxes are passed on to customers and consumers,' it said. 'With the key summer trading period ahead, we are executing our plans for the year, supporting our customers, investing in innovation and brand-building, people, and systems, whilst continuing to simplify the business and control costs,' said chief executive Roger White.
The Herald Scotland
5 days ago
- Business
- The Herald Scotland
Tennent's chief pins hopes on Scotland's 'resilient' pubs
Profits were up from €60m the year before, underlining C&C's continuing recovery from several major internal challenges, including a botched upgrade to the ordering system for its wine and spirits wholesaling business, Matthew Clark Bibendum. The company is guiding the City on profits rising 'marginally' in the current year. Despite an 'encouraging' start to the current year, boosted by the recent spell of warm sunny weather, Mr White said the challenges facing the industry are 'writ large'. Mr White, who led Irn-Bru maker AG Barr for two decades before joining C&C, told The Herald: 'We've got costs which are challenging for them [hospitality operators] coming through in terms of [increases in employer] national insurance and minimum wage. It is tough for consumers to make ends meet. Despite the recent weeks of decent weather, it will continue to have a dampening effect on the industry. 'But, you know, it is a pretty resilient industry as well. I think we are cautious, but we remain optimistic that the hospitality industry will work its way through.' Read more: C&C Group, which is headquartered in Dublin, reported that net revenue increased by 13% to €1.665 billion for the year ended February 28, in line with expectations. Growth in distribution was offset by the disposal of its non-core soft drinks business in Ireland, lower contract volumes, and a softer cider market in the UK and Ireland attributed to poor summer weather in 2024. Mr White said that flagship brands Tennent's, Scotland's highest-selling lager, and Bulmers Irish cider (sold under the Magners brand in Great Britain) had gained market share last year, and noted that the company sees 'future growth opportunities for both'. Although last year saw the men's Euro 2024 football championship take place in Germany - the type of event which brings a natural boost to beer volumes - Mr White is not concerned about C&C's results for this year being affected by tough comparisons with last time. With an estimated 200,000 to 300,000 Scotland fans having travelled to Germany for the tournament last summer, this meant the Tennent's brand was without a 'lot of core consumers for a fairly important part of the year' in its domestic market. 'So I don't think that the 'comps' [comparisons] are particularly impacted by the football of last year,' Mr White added. C&C also signalled that it was recovering customer momentum within Matthew Clark Bibendum, following the upheaval arising from the flawed implementation of an ERP (enterprise resource planning) system in May 2023. Mr White said: 'I think the actual issues that were ERP implementation related are past us now. We're still building confidence with those customers who had a tougher time at that difficult period, but I've been encouraged in all my conversations with our customers that our service level is now back to where they would want it to be. 'I don't think we are where we would want to be yet, but we are certainly a lot better and giving people a really strong service and our objective now is just to keep that going consistently for the summer and the balance of the year.' Deutsche Bank Group said in a research note for investors: 'We think C&C's FY25 results highlight an improved 2H delivery against a challenging backdrop. FY25 operating profit of €77.1m was 2% ahead of consensus, reflecting improved margins across both the branded and distribution businesses. 'Notwithstanding some of the industry headwinds we think C&C has stabilised.' The note added: 'FY26 expectations are unchanged and current trading is 'encouraging'. We think the new management team are well placed to drive shareholder value creation from here.' Shares in C&C Group, which is listed in London, closed up 3.23%, or 5p, at 159.8p.
