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C&C Group warns of lower profits due to weak UK pub demand post-budget, citing shifting consumer spending and economic uncertainty.
C&C Group, maker of Magners cider and Tennent’s lager, issued a profit warning due to weaker-than-expected demand, especially in UK pubs and bars, linked to ongoing consumer caution after the November budget.
While Christmas and New Year sales met expectations, January showed continued softness, with customers shifting from wine and spirits to beer.
The company now forecasts adjusted operating profit between 70 million and 73 million euros, citing lower performance in its distribution division.
Shares dropped up to 10%, as analysts point to economic uncertainty and changing spending habits.
C&C is restructuring internally, but a full recovery remains uncertain.
C&C Group advierte de menores ganancias debido a la débil demanda de pubs en el Reino Unido después del presupuesto, citando el cambio en el gasto del consumidor y la incertidumbre económica.