Volume sales down 5.5% in first nine months of 2012 though revenues up 7.3%
Irish drinks giant C&C Group has reported a drop in UK volume sales of Tennent's Lager in the nine months to November 2012.
Volume sales fell 5.5 per cent year on year in the nine months to November 30, 2012 though revenues rose by 7.3 per cent and sales.
Figures for the six-month period to August 31, 2012, show a volume decline of 6.3 per cent for Tennent's and a further 3.6 per cent decline in the third quarter though revenues were up 7.3 per cent and 7.5 per cent respectively in the reporting periods.
C&C described Tennent's UK performance as “solid” despite the decline in volume sales, and reports Tennent's trading over the Christmas period as being “resilient”.
A new premium beer brand, Caledonia Best, “performed well and in line with internal expectations” C&C said, following a national advertising campaign in Scotland over the Christmas period.
Caledonia Best was recently announced as the “official beer of Scottish Rugby” as part of a three-year sponsorship deal which will see Caledonia Best become the “beer partner to the Scottish National Rugby Team, Edinburgh Rugby, Glasgow Warriors and the Glasgow 7s” C&C said.
Sales of Tennent's in the Republic of Ireland rose 22 per cent year on year in the third quarter, though “from a small base position”, C&C said.
C&C, which also owns the Magners and Bulmers cider brands, said cider volume sales had fallen 6.6 per cent in the first half with volume sales recovering in the third quarter, up 0.9 per cent year on year.
However, cider volume sales for the nine months to November 30 were down 4.4 per cent year on year.
This compares with overall beer volume growth of 15.6 per cent in the first nine months of 2012.
The company said “despite the challenging trading and economic environment” guidance of operating profit will be “at the lower end of the previously stated range of Euro 112 million to Euro 118 million, before the benefit of acquisitions".