C&C CFO to leave for England-based Domino's Pizza; eyes profit in line

C&C Group PLC on Thursday announced it expects annual profit in line with expectations, after a first half that went to plan.

In addition, the Dublin-based beer, cider, wine, spirits and soft drinks maker and distributor’s finance chief plans to step down.

In a trading statement, the cider maker says net revenue for the first half to August 31 declined 4% on-year at constant currency.

This reflects ‘the impact of lower distribution revenues following the previously disclosed transfer of control of AB InBev Off Trade Beer distribution in the Republic of Ireland’.

It also noted the exit of ‘some lower margin business in the period’.

Underlying operating profit in the range of €41.5 million to €42.0 million is expected, in line with its expectations. Underlying operating profit in the first half of the prior year amounted to €40.3 million.

‘Despite the challenging macroeconomic backdrop, we will continue to invest in the business to improve performance, support growth and ensure we deliver for all our customers and consumers,’ C&C said. ‘Whilst the macroeconomic environment remains challenging and we have the all-important Christmas trading period ahead of us, we remain on track to achieve operating profit in line with market expectations.’

C&C’s Chief Financial & Transformation Officer Andrew Andrea is to leave the position ‘no later than March 13’ to move to fellow FTSE 250 listing, Milton Keynes-based Domino’s Pizza Group PLC.

‘The search for a new CFO will start immediately in line with the C&C succession plan, and a further update will be issued in due course,’ C&C says.

C&C shares fell 6.3% to 151.40 pence each on Thursday morning in London.

Copyright 2025 Alliance News Ltd. All Rights Reserved.