- In a challenging economic environment,
the Group’s results demonstrate the
resilience of its business model focusing
on brand-market combinations.
- Stable earnings were achieved in the
Republic of Ireland for the third year
running with an increased contribution
- The Magners brand in Great Britain
delivered positive volume and revenue
growth for the first time in five years.
- Operating profits of Tennent’s business
grew 22.5%, providing an earnings base
positioned for growth.
- Supply side operating efficiencies were
enhanced by good contract packaging wins.
- Our export cider and beer volumes grew
by 31.9% during the year, with margin
- For the third financial year the Group
has delivered consistent earnings
growth in line with stated guidance.
- Focused investments were made in
growing international cider markets
with the purchase of Hornsby’s in the
US and a build out of international sales
- Product innovation continues with
the launch of the Magners Specials,
Caledonia Best and Tennent’s Original
- Our high conversion of earnings to
free cash flow resulted in a healthy
balance sheet supported by a new
€250m financing facility available for the
Group’s future development.