C&C, which owns the Magners cider and Tennents lager brands, salvaged Matthew Clark and Bibendum from the wreckage of Conviviality, which collapsed in April.
With the contribution from the two drinks suppliers, net revenue almost trebled to €1.57bn in the year ended 28 February (2018: €0.55bn). Pre-tax profits climbed by 17% to €92.9mln (2018: €79.2mln).
As C&C had guided for in a trading update back in March, earnings per share jumped 21% to 26.6 cents (2018: 22.0 cents).
As well as the two acquisitions, bosses put the outperformance down to last summer’s “exceptional” weather, which they conceded “is not something we can necessarily hope to repeat.”
Off to a “solid start” in new year
“FY2019 was a transformational year for the company,” said chief executive Stephen Glancey.
“Despite strong multi beverage brand led positions in Ireland and Scotland, access to the wider UK on-trade had always been a challenge, the acquisition of Matthew Clark and Bibendum changes this dynamic.”
Looking ahead, Glancey said it was a “challenge” to predict this year’s performance given the various economic and political uncertainties.
But he said the company had made a “solid start” to the financial year, in-line with expectations, and that he was targeting double-digit earnings growth.
Shares edged 1.1% higher on Wednesday morning to €3.64, valuing the company at €1.1bn.