STEEP sales falls across Britain and Ireland have been reported for Magners and Bulmers maker, C&C, resulting in share prices falling some 9 per cent.
Sales volumes for the Irish drinks manufacturer in Britain and Ireland dropped by 13 per cent and 22 per cent for the Magners and Bulmers brands, respectively, between March – May.
In a statement, C&C have attributed a fall in cider consumption to poor weather, with the two months from March feeling unseasonably cold.
According to the drinks group, “difficult” times for trading in both countries will remain for the rest of the year.
In the US sales of C&C’s popular Woodchuck cider were also disappointing, growing by a “lower than expected” 3 per cent.
Profits in the remaining months leading up to February next year are expected to lie between €125m and €132m, compared to an estimate of €132m, according to Thomson Reuters.
