C&C Group, the drinks manufacturer and distributor behind Tennent’s, Bulmers and Magners, has announced the upcoming departure of its chief financial and transformation officer (CF&TO) Andrew Andrea, alongside a first-half trading update showing earnings in line with expectations.
Andrea, who joined C&C during what CEO Roger White called “challenging times”, will step down no later than 13 March 2026 to take up the role of CFO at Domino’s Pizza Group. The search for his successor has already begun, with C&C confirming that Andrea will remain in post until the end of the current financial year.
Paying tribute to Andrea’s contribution, White said: “Through his experience and capabilities, Andrew played a significant role in the stabilisation and improvement of the business. He will continue to be an important part of the leadership group until his planned departure early next year.”
Alongside the board update, C&C reported that net revenues for the first half to 31 August 2025 were down 4% year-on-year on a constant currency basis, reflecting the transfer of AB InBev off-trade beer distribution in the Republic of Ireland and a strategic exit from lower-margin business.
Despite this, underlying operating profit is expected to land between €41.5m and €42m, in line with expectations. The company highlighted solid performances from its core brands, Tennent’s and Bulmers, and early progress in re-invigorating Magners UK following its return to C&C’s control earlier this year.
Revenues in Matthew Clark Bibendum in the period were slightly below last year. This reflects lower volumes in the business’s national customers in line with market trends, especially within the wines and spirits categories.
C&C also reiterated its commitment to returning €150m to shareholders by FY2027 through dividends and share buybacks, with €84m distributed to date since the start of FY2025.
Looking ahead, the group said its “immediate priorities remain to focus on winning new customers by delivering on our service, range and value proposition, growing market share of core brands, and driving the ‘Simply Better Growth’ simplification programme to deliver efficiency across the organisation”.
The company cautioned that while the macroeconomic environment remains challenging, it remains on track to meet market expectations for full-year operating profit, with the crucial Christmas trading period still to come.
