Budweiser transfer dents C&C Group revenue

C&C Group, which manufactures Tennent’s lager and Magners and Bulmers cider, has taken a 4% net revenue hit in the six months ended 31 August 2025.

The drinks giant blamed the year-on year-reduction, from €861.4m (£754.4m) in H1 2025 to €825.7 (£723.1m) in H1 2026, on the impact of transferring out the Budweiser Brewing Group in the Republic of Ireland.

C&C Group and Budweiser’s parent company AB InBev restructured its trading relationship in January 2025. C&C Group reassumed control and distribution of its cider portfolio in Britain, and AB InBev took control and distribution of its beer portfolio, including Budweiser, Corona and Stella Artois, in the off-trade in the Republic of Ireland.

C&C Group added that revenue was also affected by lower trading volumes, especially in wine and spirits, but that it was in line with wider market trends.

Nevertheless, Tennent’s and Bulmers benefitted from the shift in mix towards beer and cider in the UK on-trade, delivering net revenue growth and improved market share. Tennent’s market share increased by 0.6% in the latest 28-week period, while net revenues were up 1.4%, with pricing offsetting a volume decline of -2.8%.

Bulmers net revenues during these six months were up 6.6%, helped by good summer weather in Ireland. C&C’s total cider market volumes, in both on-trade and off-trade, grew at 4.1% and 5.8% respectively.

Group operating profit also rose by 4% year-on-year, from €40.3 (£35.3m) to €41.9m (£36.7m).

Chief executive Roger White, who joined C&C at the beginning of this year, said: “We have delivered a solid first-half performance against a challenging market backdrop. We continue to invest in initiatives to support improved business performance – building brands, delivering service, range and value to customers and consumers. In addition, we have made good initial progress in our programme to simplify and improve our core business processes.

“We believe we are well-prepared for the all-important festive trading period, and while we expect challenging economic conditions to persist, we remain committed to the delivery of our full-year earnings targets.”

Last month, the group’s chief financial and transformation officer Andrew Andrea moved on to become chief financial officer at Domino’s Pizza Group. C&C is still searching for a replacement.