C&C Group have announced an operating profit of €126.7 million for the year ended 28 February 2014, a 10.6% increase from the year before.The drinks group reported a particularly strong performance in Scotland, following their purchase of Wallaces Express.
Tennent’s operating profits increased by 18.9% to €34.6m, with on-trade volume growing by 3.1%. Also, despite a 10% decline in Magner’s brand volume in the UK, the brand increased by 6.5% in Scotland, with Magner’s Golden Draught up 17.6%
Chief executive Stephen Glancey said: “FY2014 is our fifth successive year of earnings growth and our full year outcome represents a robust performance with continued progress against all financial measures. This performance was delivered while managing the change associated with the integration of recent acquisitions in Ireland, Scotland and the US.”