C&C Group plc (CCR.L) stated on Monday that its business performance aligns with expectations and plans to return up to €150 million by the end of 2027. This response follows a letter from Engine Capital, a New York-based activist investor.
The company expressed openness to feedback from all shareholders, acknowledging Engine Capital's call for a comprehensive business review.
"Due to a combination of structural and self-inflicted problems, C&C has perennially underperformed and is currently deeply misunderstood and undervalued by the market," the hedge fund articulated in its letter.
As of now, C&C's stock has risen by 1.38%, reaching 161.20 pence on the London Stock Exchange.
