Roger White, new chief executive of Tennent’s owner C&C Group, has promised to reveal “exciting plans” for the group which is expected to post lower underlying earnings for the year.

Mr White, who left Irn-Bru maker AG Barr last year to join the Dublin-based drinks outfit, said he will update investors in May.

C&C group, which also makes Bulmers and Magners cider, said it has made good progress and expects to report underlying EBIT in the range of €76m – €78m, which although modestly below target due to softer trading across the market in January and February, reflects significant recovery versus the prior year’s earnings of €60m.

Shares in the company sank about 20% in early trade in London.

Mr White, who led AG Barr for 22 years, said: “Having joined the business [C&C] in late January 2025, although it is still early days, I believe I have already gained an understanding of the business and the wider market dynamics.

“It is clear to me that C&C has a committed and capable team, alongside great brands and a passion for delivering for its customers.  However there is much work to be done to fully realise the potential across the Group.

“Whilst the market backdrop remains challenging, we are continuing to support our customers, invest in the business and have some exciting plans to implement this year which I look forward to updating you on further in May.

“I remain confident of the significant long-term opportunity within the business and I am fully focused on delivering increased shareholder value.”