Drinks company C&C Group plc has reported a strong financial performance for the 12 months ended 28 February 2025, with earnings growth and improved operating margins, despite challenges in the broader market.
In a trading update released on Thursday, C&C said it expects to report underlying earnings before interest and taxes (EBIT) in the range of €76-€78 million, representing a notable recovery from the previous year’s €60m (£50.4m).
While this result falls slightly short of the company’s targets due to softer trading conditions in January and February, the company said it reflects its resilience amid economic uncertainty.
Group revenues are expected to remain stable compared to last year, supported by growth in C&C’s distribution business. This was offset by the strategic disposal of its non-core soft drinks business in Ireland, the planned exit from low-margin contract brewing, and weaker cider sales in Britain during the summer months.
C&C saif the macroeconomic environment, including the UK October Budget, presented challenges for its hospitality customers, impacting consumer confidence. However, the company successfully expanded its customer base, with a 7 per cent increase in the second half of the year in its Matthew Clark Bibendum distribution business.
This growth was attributed to consistently high service levels and continued investment in the company’s leading brands, including Tennent’s and Bulmers.
Looking ahead, C&C anticipates ongoing economic uncertainty and challenges in the hospitality sector. However, the company remains optimistic about its long-term prospects, with plans to reinvest in brand innovation, customer service, and operational systems. Notably, the relaunch of Magners, now under C&C’s full management control in the UK, is among the key initiatives planned for FY2026.
Despite market challenges, the company expects earnings in FY2026 to be slightly ahead of FY2025, with a medium-term goal of achieving €100 million in EBIT.
“Although it is still early days, I believe I have already gained an understanding of the business and the wider market dynamics. It is clear to me that C&C has a committed and capable team, alongside great brands and a passion for delivering for its customers,” he commented.
“However there is much work to be done to fully realise the potential across the group. Whilst the market backdrop remains challenging, we are continuing to support our customers, invest in the business and have some exciting plans to implement this year. I remain confident of the significant long-term opportunity within the business and I am fully focussed on delivering increased shareholder value.”
C&C will provide further details in its full-year results announcement on 28 May.
Wholesale businesses are urged to drive change by creating more female role models as a recent report shows that the number of women at board level in wholesale firms has fallen to its lowest recorded level.
Food and Drink Wholesale UK (FWD) and Women in Wholesale (WiW) on Tuesday (18) unveiled a new research report which was launched at a landmark Parliamentary Reception to mark ten years of the Women in Wholesale movement.
According to the report, the number of women at board level has fallen to its lowest recorded level – just 16 per cent in 2025, down from 20 per cent in 2022 and 17 per cent in 2019.
With the UK national average for board-level female representation at 48 per cent, wholesale is severely under-indexing, highlighting an urgent need for action.
The research also found that 67 per cent of respondents cited male-dominated workplaces as the biggest challenge for women in wholesale.
44 per cent identified a lack of female role models as a key barrier to career progression while only 30 per cent of businesses have a written menopause policy, and just 25 per cent provide menopause awareness training for managers.
Unconscious bias remains a critical issue, with 43 per cent of respondents saying it impacts decision-making and promotions.
Despite these challenges, there are signs of progress. The report adds that flexible working options are now offered by 65 per cent of businesses.
At the event, FWD urged wholesale businesses to take the following actions:
Increase the visibility of female role models – 53 per cent of respondents believe this is key to driving change.
Introduce unconscious bias training – currently, only offered by 33 per cent of businesses.
Enhance parental leave and flexible working policies – only 36 per cent of businesses go beyond the statutory minimum.
Develop mentorship opportunities for women – a major gap, as just 12 per cent of companies currently provide this.
FWD called on government to engage directly with representatives from the wholesale industry in the Employment Rights Bill consultations, including those on equal pay and flexible working, to ensure reforms are practical for the sector.
The wholesale body is also calling on the government to rethink its approach to business rates reform and exempt food and drink wholesalers, to ensure they can continue their vital role in supporting public services, local businesses, and communities.
The wholesalers are also demanding protections for wholesale workers and ensure that all wholesale premises are covered in the upcoming Crime and Policing Bill.
While quotas have been debated, with 56 per cent of respondents concerned they may undermine merit-based hiring, the solution lies in fostering an environment where women naturally progress.
“Empowering women in wholesale is about more than quotas,” said Elit Rowland, founder, WiW. ”It’s about creating real, sustainable change through workplace culture, policies, and leadership.”
“The wholesale sector has made progress, but the drop in female board representation is a wake-up call. We need real, structural support at every stage – from early career to maternity, menopause, and leadership. Now is the time for businesses to act, not just talk, to create a culture where women can thrive.”
Lyndsey Cambridge, head of external affairs, FWD agreed: “Our landmark report serves as both a reality check and a roadmap for the future.
"The message is clear: women working within the wholesale sector want businesses to address gender disparity, champion for change, and create the role models who will inspire the next generation of female leaders.”
Firms occupying larger premises in Scotland are set to pay "£54.7 million more" than their equivalent-sized counterparts down south in the coming year, from 1 April,
The figures have prompted the Scottish Retail Consortium to reiterate its call for rates parity with England and for the introduction of a new ‘Poundage Rate Lock’, so that Scots retailers are never again charged more in rates than counterparts down south.
In response to a written parliamentary question from North East Scotland MSP Michael Marra, Scottish Ministers have confirmed that the Higher Property Rate differential between Scotland and England will be 1.3p in the pound, costing Scots ratepayers an extra £54.7 million in 2025-26.
Shops will account for £9.1 million of this surcharge, with hotels £2.5 million, offices £6.4 million, and factories £9.3 million. Pubs, cinemas and caravan parks are also affected.
The Higher Property Rate is liable on commercial properties with a rateable value of £100,000. There are 11,360 such premises. It is a slab tax and so the higher tax rate applies to each pound of a property’s rateable value.
This surcharge was described as “damaging perceptions” of Scotland’s competitiveness by the Barclay Rates Review, which called for parity with England to be restored by Spring 2020, some five years ago.
Despite some welcome decisions in the Scottish Budget including a freeze in the Basic Property Rate, the rates burden remains onerous and at a 26-year high. Meanwhile smaller stores in Scotland are missing out on the temporary rates relief being made available to counterparts in Wales and England.
David Lonsdale, Director of the Scottish Retail Consortium, said, “There is a pressing need to lift private sector investment here in Scotland yet firms liable for the Higher Property Rate continue to pay more than their counterparts in England, to the tune of £54.7 million annually.
"Shops account for £9.1 million of this, making it even more expensive to operate a store on our high streets and retail destinations at a time when retail sales and footfall are at best flatlining.
“We’re baffled as to why thousands of stores and other businesses operating here in Scotland are thought to be better placed to fork out more in rates than similar sized premises down south.
"This Scotland-only surcharge increasingly sticks out like a sore thumb. Ministers must stand by their pledge to restore parity with England and commit to a new ambition, a Poundage Rate Lock, so that Scots retailers are never again charged more than their counterparts down south.”
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U K retailers warn of closures due to rising costs
Retailers across the nation’s flagship high streets are facing rising costs while many are considering reviewing their investment strategies and some are potentially facing permanent closure, a new report has stated.
According to fresh analysis from pro-growth group High Streets UK, rising operational costs is the most pressing issue businesses are facing.
The government confirmed changes to employers’ national insurance and the national minimum wage in last year’s Autumn Statement, but the proposed creation of a new ‘super tax’ business rates multiplier is currently undergoing a consultation period.
Properties set to be affected by the new ‘super tax’ multiplier are those with a rateable value of over £500,000.
The survey revealed that the majority of businesses set to be impacted by the new higher multiplier (69 per cent) will seek to manage costs by reviewing staffing requirements – threatening up to 5,500 jobs in these locations.
64 per cent of those impacted businesses will consider passing on the additional costs to consumers, with analysis suggesting that prices would need to rise by around 3 per cent to offset the increased tax burden.
A third of affected businesses are considering reviewing their investment strategies in the UK (34 per cent) or closing certain locations (31 per cent) as a result. This could put up to 600 trading units at risk, with over 200 potentially facing permanent closure.
Despite government claims the proposals will target online giants, properties subject to new higher ‘super tax’ multiplier are 5.1x more likely to be in flagship high street locations like Birmingham, Liverpool or London than anywhere else.
Often leased or owned by large retail, hospitality or leisure operators, or professional services firms, these businesses could be subject to a collective increase in business rates liabilities of up to £69 million.
Dee Corsi, chair of High Streets UK and chief executive of founding member, New West End Company, commented, “We welcome the long overdue review of the current business rates system.
"However, current proposals place too great a burden on the UK’s flagship high streets, undercutting the Government’s national growth ambitions.
“Our survey of businesses up and down the country clearly shows that the plans would be a disaster for jobs, investment, growth and ultimately, lead to higher prices for consumers.
"We urge the Government to take on board our concerns and reconsider their proposed reforms to protect flagship high streets, attract inward investment, support growth, and create a fairer system for all.”
Earlier this month, High Streets UK met in Liverpool for its first quarterly policy forum on business rates.
Key policy recommendations include conducting a full impact assessment of proposed multiplier increases; freezing any hike in the higher multiplier until 2027/28 to provide greater certainty; and ring-fencing rates for investment in the local flagship high street area, so those who pay the highest rates see a positive impact on services on their doorstep.
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Vape regulations and enforcement in Tunbridge Wells
Local Vape Action (LVA) is a partnership approach to tackling vaping issues at a local level. It brings together local authority partners as well as the vape sector via the Independent British Vape Trade Association (IBVTA), to identify and target specific areas.
LVA began with a pilot in Tunbridge Wells as identified by local authority partners in Kent. As part of the project retailers received visits from trading standards to check that they are meeting their statutory obligations, utilising targeted LVA guidance, including age-verification policies, in-store signage and retailer awareness of compliant vape products and vape takeback for used vapes. This builds on the positive work that Kent County Council has undertaken in tackling illegal vapes. A summary of activities between September and December 2024 included:
Trading Standards visits to more than 40 retailers of vapes across Tunbridge Wells.
Trading Standards recorded the proportion of vape retailers that offered some form of vape takeback for used vapes. Only 26% were meeting their statutory requirement. Many of the retailers said they needed clearer guidance on requirements to recycle used vapes.
Community safety week in late October a store takeover (pop-up) in Tunbridge Wells provided the opportunity to directly engage the local community utilising LVA branded materials and highlighting illegal vapes. Several stores were visited and illegal vapes seized.
Trading Standards conducted a test purchasing exercise in December 2024, with a pass rate of 20% amongst the 20 shops that were visited. No offence was committed as the young person was of age, but this highlights the issues around not asking for ID appropriately and the further work required around the sale of vapes to younger people.
Trading Standards seized non-compliant products from several independent shops across the pilot period leading to a reduction in the reported levels of illegal vapes sold.
Community Safety Team and Trading Standards attendance at a safeguarding event at a local Tunbridge Wells school in December.
LVA commissioned consumer research of 200 adults in the Tunbridge Wells area in December 2024
“This unique pilot has successfully brought together experts from the vape manufacturers, local councils and partner agencies to address specific issues in Tunbridge Wells, demonstrating effective collaboration and use of shared resources to ensure a trading environment which protects consumers, particularly children and young people, from harm and is fair to business," said Mark Rolfe, Head of Community Protection at Kent County Council. "Kent Trading Standards' involvement is crucial, particularly among smaller independent stores, by providing the necessary resources, time, expertise and engagement to ensure that the law is both understood and complied with in a way which supports legitimate businesses to trade and grow with confidence.
Kent Police and Crime Commissioner Matthew Scott added: “This has been an excellent and productive partnership, which has protected people, particularly young people, from illegal and often harmful vapes. By working together, the team has proved they can help protect places and businesses from unfair and unlawful practises. I’d like to thank everyone involved for their commitment to this innovative project."
Smoking rates in parts of England have increased for the first time in nearly two decades, shows a new research published on Tuesday (18). Industry experts suspect misinformation around vapes and impending regulation on flavours are pushing vape users back to smoking cigarettes.
While smoking rates have decreased since 2006, the rate of decline has flatlined from 2020, and in some areas of the UK smoking rates are increasing again.
New research, by Haypp, looks into vape user’s perception of harm across a range of nicotine products, highlighting a serious lack of awareness when it comes to which products are more harmful than others, potentially contributing to this rise in cigarette use.
The survey, to which all respondents were current vape users, showed that consumers did not see a significant difference in harm levels between cigarettes, vapes, and nicotine pouches.
In fact, respondents believed that the three products were similarly harmful, rating all three as being between 4.5 to 6 out of 10, on a scale from not harmful to very harmful.
This is a shocking statistic given that there is a substantial body of evidence, including NHS research, that proves that cigarettes are much more harmful than vapes and nicotine pouches.
This research coincides with the latest data from University College London, highlighting a rising issue with smoking cigarettes, and the understanding of their harm to public health.
Haypp’s latest vape report also highlights that significant number of vapes users could return to smoking cigarettes, depending on how UK laws on vaping may change:
20 per cent of current vape users would return to smoking cigarettes if vapes were no longer available to them while ·37 per cent admitted they would return to smoking cigarettes if vape flavours were to be banned in the UK.
10 per cent of vape users say they may return to smoking cigarettes following the disposable vape ban in June.
Markus Lindblad, Nicotine Expert and Head of External Affairs at Haypp, said, “For many years, the UK government has had great success in reducing smoking rates.
"However, this new research, combined with Haypp’s statistics paint a very worrying picture, one that industry experts have been concerned about for some time now.
"There is a great deal of confusion amongst UK consumers as to how harmful cigarettes are compared with alternative nicotine products and most smokers wrongly believe that vaping is as harmful as cigarettes.
"UK consumers are exposed to a great deal of misinformation about vapes and nicotine pouches, and this needs to be addressed to enable people to make informed choices about less harmful nicotine products.
"Public information campaigns about the true harm levels of cigarettes compared with vapes should be facilitated by health authorities.
“As a responsible retailer, we hope to help inform nicotine users about the dangers of smoking cigarettes, and highlight the benefits of switching to alternative products, such as nicotine pouches.
"Thanks to snus and nicotine pouches, Sweden is set to become Europe’s first smoke-free country and we have further research to show that if the UK adopted similar laws, up to 28,410 lives could be saved every year.
"The importance of this type of education cannot be understated and we hope more is done to deter potentially millions of people from smoking cigarettes.”