Skip Header
Important information: The value of investments can go down as well as up so you may get back less than you invest. Investors should note that the views expressed may no longer be current and may have already been acted upon. This is a third-party news feed and may not reflect Fidelity’s views.

C&C Group on track despite mixed summer weather

(Sharecast News) - C&C Group said in a trading update on Thursday that despite challenging weather conditions in June, its earnings for the year to date were in line with expectations, with a strong outlook for the rest of the financial year. The FTSE 250 drinks maker, which was holding its annual general meeting, said it was confident in meeting its full-year earnings targets, which were projected to show significant growth compared to the previous year.

That optimism is underscored by the planned restart of the second tranche of its €15m share buyback programme, set to begin on 1 September.

It followed the successful completion of the first tranche earlier in the year, as part of C&C's broader strategy to return at least €150m to shareholders by 2027.

Additionally, shareholders would vote today on a proposed final dividend of 3.97 euro cents per share, which, if approved, would bring the total dividend for the year to 5.86 cents per share.

In a board update, C&C announced the appointment of Feargal O'Rourke as an independent non-executive director, effective immediately following the AGM.

O'Rourke would also join the audit committee.

His appointment followed a selection process overseen by the nomination committee with the assistance of an independent executive search firm.

The company noted that it was currently reviewing the composition of its committees, and would provide further updates on committee memberships in the near future.

"Feargal brings valuable expertise to C&C having advised companies on a broad range of corporate, financial and taxation considerations over a long and esteemed career in PwC," said group chair and chief executive officer Ralph Findlay.

"We look forward to the contribution he will make to the C&C board in the period ahead as we pursue our strategic, financial and ESG ambitions."

At 0933 BST, shares in C&C Group were up 1.19% at 153.4p.

Reporting by Josh White for Sharecast.com.

Share this article

Related Sharecast Articles

PRS REIT hikes Q2 dividend, continues to seek suitor
(Sharecast News) - The PRS REIT declared an increased interim quarterly dividend of 1.1p per share for the second quarter of its financial year on Tuesday, up from 1p in the same period last year.
HgCapital Trust announces partial exit from Trackunit
(Sharecast News) - HgCapital Trust announced a partial exit from its investment in Trackunit, a software-as-a-service (SaaS) and operating data platform provider for the construction industry, on Monday, through a transaction with the private equity arm of Goldman Sachs Alternatives.
PZ Cussons swings to first-half profit, shares rally
(Sharecast News) - PZ Cussons rallied on Tuesday after the Imperial Leather maker said it had returned to profit in the first half and remains on track to meet full-year expectations.
Bellway reiterates guidance but reports subdued autumn activity
(Sharecast News) - Shares in Bellway fell sharply on Tuesday despite the UK housebuilder reporting strong growth for the first half and reiterating its full-year guidance, as the firm highlighted the "sensitivity of customer demand" amid a rise in mortgage rates over recent months

Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.

Award-winning online share dealing

Search, compare and select from thousands of shares.

Expert insights into investing your money

Our team of experts explore the world of share dealing.