Group 1: Trading Performance - C&C reported that trading for the six months ending in August is in line with expectations, with net revenues 4% below last year due to lower distribution revenues and planned exit from lower margin business [1] - Core brands Tennent's and Bulmers showed solid performance with revenue growth during the same period [2] Group 2: Brand Strategy - Following the transfer of control of Magners UK back to C&C in January, the company initiated a multi-year program to reinvigorate the brand, starting with a new marketing campaign and initial distribution gains [3] - The premium portfolio continues to build distribution in both on and off trade channels [3] Group 3: Future Outlook - C&C plans to continue investing in the business despite a challenging macroeconomic environment, aiming to achieve operating profit in line with market expectations [4] Group 4: Leadership Changes - Andrew Andrea, Chief Financial and Transformation Officer, will step down to become CFO at Domino's Pizza Group, with a search for a new CFO starting immediately [5] - The leadership change at Domino's comes amid challenges for UK firms facing inflation and changing consumer behavior [6][7]