On Friday, C&C, a beverages manufacturer, experienced a drop in its stock shares after postponing the disclosure of its full year earnings. The producer of Bulmers cider mentioned in an announcement that it had postponed its planned earnings report, originally scheduled for May 23rd, without mentioning a new date, saying only that it would release the details “at the earliest opportunity.”
As trading commenced in London, C&C’s shares plunged by up to 2.4%. The company commented that while the Annual Report and Accounts for FY2024 are nearly ready, further time was needed to conclude a review of some non-cash accounting estimates from prior financial periods.
C&C, which also includes Tennents Lager in its portfolio, reiterated expectations of an underlying profit of roughly €60 million from its financial year, ending in February. The firm expressed greater optimism for its mid-term business prospects, along with its robust cash flow and conversion. As a result, C&C reiterated its plan to repay €150 million to its shareholders within its stated leverage range over the ensuing three years.