Tennent’s on top as pilsner and citrus lager launches attract new drinkers
“I am pleased to report that we are seeing early signs of improved momentum across the business” – Roger White, CEO
Tennent’s has continued to outperform the lager market in Scotland with product launches attracting new customers, parent company C&C Group has revealed.
Posting interim results for the six months to the end of August, the Irish drinks firm, which is led by Scots-born chief executive Roger White, said net revenues at Tennent’s had increased, with pricing offsetting overall market-driven lower volumes.
Tennent’s Bavarian Pilsner was launched last year and Tennent’s Tops citrus lager earlier this year, attracting new consumers, C&C noted. Since the period end, the group has also launched Tennent’s Stout, “further supporting the renewed innovation pipeline”.
At a group level, net revenues dipped 3 per cent year on year to €794.9 million, but operating profit was up 4 per cent at €43.4m, underpinned by an improvement in operating margins.
White, who took the helm at Dublin-headquartered C&C Group towards the end of January 2025, having previously led AG Barr, the Cumbernauld-headquartered maker of Irn-Bru, for 22 years, said: “We have delivered a solid first-half financial performance, reinforcing our actions to build resilience in our business.
“We outlined our key areas of strategic focus at our recent capital markets day, and I am pleased to report that we are seeing early signs of improved momentum across the business.
“The general economic environment remains volatile, and we have the important festive trading period yet to deliver,” he added. “However, we have strong trading plans in place for the balance of the year alongside a number of brand initiatives and the delivery of our developing innovation agenda, all of which give us confidence in our ability to meet market expectations for the full-year.”
Greg Johnson, an analyst at brokerage Shore Capital, said: “The Interim results demonstrate that progress is being made on delivering on its financial targets, which help begin to unlock the inherent value across the two profit streams.”
C&C, which also owns drinks brands such as Bulmers, Drygate and Menabrea, said trading performance since the period end had been in line with expectations and it remained on track to achieve full-year operating profit in line with market expectations.
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