“Our FY2022 performance highlights the strength of our business model, with the Group returning to profit and cash generation. Encouraged by the reaction and resilience of the hospitality sector, we are pleased with how trading has recovered and the subsequent speed of customer and consumer demand, which we believe reflects the enduring importance of the on-trade and the role that it plays in our society.

The Group has responded well to servicing this demand, despite the widely publicised UK supply chain constraints impacting our industry. In addition, we have broadly managed the challenging and evolving inflationary cost pressures through FY2022. However, we remain vigilant of this challenging environment and are mindful of the pressures being faced by consumers.

In FY2022 we continued to execute our strategy: increasing investment into our branded portfolio; launching a significant change programme as we streamlined the GB businesses (Tennent’s, Matthew Clark, Bibendum and C&C Brands) under one management team; and executing our sustainability agenda. With our markets leading platform and financial strength, we believe C&C is well placed to consolidate its position as the leading drinks distributor serving the UK and Ireland drinks market.”

David Forde

Group Chief Executive Officer