C&C first-half profits and sales slip

08 October, 2009

Magners producer C&C has reported a 10.5% drop in net sales and a fall in profits in its first-half financial results.

It said volumes of cider had remained flat over the six months to 31 August, while its spirits were down 15%.

A 2% decline in British sales of Magners was offset by growth in Northern Ireland and other markets.

Chief executive John Dunsmore said: “Following a positive start to the first half, trading conditions in August and September have been more challenging. However, we remain on track to deliver on the objective of stabilised volumes and a full year operating profit outcome in line with our stated guidance.”

Dunsmore said C&C would be reviewing its marketing strategy following the group’s £180 million acquisition of the Tennent’s lager brand from AB Inbev, which he called “a great opportunity to strengthen our route to market and broaden our product portfolio”.

A statement said: "The market dynamic is one of continued off-trade expansion relative to the on-trade. C&Cs channel volume trends reflect this dynamic with off-trade volume growth and on-trade decline."




Bookmark this


Site Search

COMMENT

Donald Trump: the US has much to learn from history

The reasons Donald Trump should not be left in charge of a shopping trolley, let alone the keys to the White House, are plentiful and well-documented – from his use of the word “bigly” and lamentable business legacy to his dubious post-modern feminist principles, quite astonishing lack of political acumen and, most worrying of all, his bewildering hair. 

Click for more »
Upcoming events

Polls

Is blended Scotch overshadowed by single malt in retailers?

  • Yes
  • No
  • Don't know

Facebook

Twitter