The Irish drinks firm behind Scotland’s favourite lager yesterday revealed how sales jumped 30% last year thanks to strong performances in Scotland and the Emerald Isle.
C&C Group, which counts Tennent’s lager and Magners cider among its stable of brands, said total revenues fizzed to 620.2m euros during the 12 months to the end of February. Pre-tax profits rose by 6% to 116.2m euros.
The company’s UK beer division which includes its best-known label as well as Caledonia Best and new Belgian style lager Heverlee increased operating profits by 18.9%, with margins boosted by new product launches and reductions in cost.
C&C said the completion of its acquisition of Ayrshire wholesaler Wallaces Express which came after the year-end reinforced its plans to grow its product offering, while entering a joint venture with Williams Bros would enable it to participate in the exploding craft brewing market.
“The cornerstone of our strategy is maintaining strong domestic brand market combinations,” said group chief executive Stephen Glancy.
“FY2014 marked continued progress towards this objective with the development of a customer focused, multi-beverage model in Scotland and Ireland.
Cider markets were tough, with Magners dipping in volume by 10% across the UK but growing by 6.5% in Scotland.