The owner of Tennent’s Lager has reported an increase in sales but says it remains “vigilant” in monitoring inflation’s impact on both its cost base and customer demand.

Ireland’s C&C Group – whose brands also include Bulmers, Magners, Heverlee and Drygate – said it is continuing to assess the need for further price increases to cover rising manufacturing costs. The company upped prices by 3.5 per cent across its Matthew Clark and Bibendum divisions in November of last year.

Issuing a trading update in conjunction with its annual general meeting (AGM), C&C reported a 6% increase in revenues for the four months to the end of June when compared to the same period prior to the Covid outbreak. This continues the group’s recovery from operating losses of €63.6 million during the 12 months to February 2021, when lockdown restrictions closed pubs and restaurants for all but 117 days of the year.

READ MORE: Tennent’s brewer warns pubs of further price rise as company returns to profit

Debts have also continued to fall, down from 3.4 times adjusted earnings in February 2022 to a ratio of 2.4 as of the end of June.

After four years as chairman and 10 years as a director, Stewart Gilliland has stepped down from the board. Ralph Findlay has taken over as chairman.

“I would like to thank Stewart for his commitment and stewardship of C&C, during which time the group has transformed into the leading final-mile distributor to the on-trade in the UK and Ireland, while navigating the business through the most challenging period in our industry’s history,” Mr Findlay said.