OPERATING AND STRATEGIC HIGHLIGHTS

Operating and Strategic Highlights Graph
  • 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 from beer.
  • 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 improvement.
  • 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 infrastructure.
  • Product innovation continues with the launch of the Magners Specials, Caledonia Best and Tennent’s Original Export.
  • 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.
(back to top)