Drinks maker C&C Group warned on profits on Friday, stating that overall trading was below internal expectations in FY26, with customer performance across November and early December impacted by weak consumer confidence associated with the UK Budget.
Source: Sharecast
C&C now expects adjusted operating profits to be in the range of €70m-73m, reflecting lower operating profits in its distribution business.
The FTSE 250-listed firm said its performance was primarily the result of "softer than anticipated demand" in hospitality, alongside adverse product mix, as consumers continue to move away from the consumption of wine and spirits, in favour of beer.
C&C did note that trading across the Christmas fortnight was in line with expectations. However, it also stated that so far in January, it has seen "continued softness of consumer demand" in the market.
Looking ahead, C&C currently anticipates FY27 profits to be much the same as FY26, as it expects to see current macroeconomic and consumer headwinds continue into next year.
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