C&C shares plunge after company incurs €25m charge related to new system headache

📆 19.05.2023 15:00:00
📰 IrishTimesBiz

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Shares in C&C fell sharply on Friday after the drinks group said it would incur a one-off charge of €25 million related to the delayed implementation of a new business management system at one of its UK units and its CEO quit.

The company said it expected a one-off impact of about €25 million associated with ERP system disruption in 2024, “reflecting the cost associated with restoring service levels and lost revenue”.

In its trading update, the drinks group re-affirmed its earnings guidance given for the year, saying it expects to report an operating profit of €84 million.

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