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An expected €43m to €44m in first-half underlying operating profit keeps C&C Group on course to meet full-year market consensus, the UK-listed drinks company reported Thursday alongside an agreement to acquire Asahi Group Holdings' Nectar Imports wholesale and distribution business in the UK for nominal consideration.
Net revenue for the six months to 31 August fell 3% year on year: branded revenue rose 2%, distribution revenue dropped 4%.
C&C called the Nectar Imports acquisition an attractive opportunity to structurally grow its Matthew Clark Bibendum wholesale operation.
| Revenue segment | H1 YoY (reported) | |---|---| | Net revenue | -3% | | Branded | +2% | | Distribution | -4% | Distribution is the drag on the headline number.
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