C&C fails to enjoy a festive craic as fizz goes out of cider market

first_imgWednesday 14 January 2015 8:07 pm C&C fails to enjoy a festive craic as fizz goes out of cider market Show Comments ▼ IRISH cider maker C&C yesterday issued a profit warning due to poor sales in Britain in the last four months of 2014 as it pursued a failed takeover bid for pub group Spirit.The makers of ciders Magners and Bulmers, as well as Tennent’s lager, said it would advance plans to “significantly reduce costs” in England and Wales.It did not specify what this would mean, but said it aimed to return its cider business to “acceptable levels of profitability”.Sales volumes fell 9.8 per cent in the three months to November in the two reg­ions, which accounted for around a quarter of C&C’s revenues. C&C forecast operating profit of €115m (£89m) in its financial year, which ends in February, down from €127m in 2013.Sales falls in the US eased to 16.2 per cent from an average of 21 per cent in the first half of the year as competitive threats receded, it said. “While the performance during the period is… disap­p­oint­ing, the improve­ment in the US provides some encouragement,” said Good­body analyst Liam Igoe.C&C’s bid last year to buy the Spirit pub group failed after the chain was bought by Greene King for £774m.It had hoped to use Spirit’s 1,200 pubs to increase its distribution in the UK, where it has faced a number of new rivals, such as Swedish brand Koppar­berg and AB InBev’s Stella Cidre. Tags: NULL More From Our Partners Astounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgMark Eaton, former NBA All-Star, dead at 64nypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comcenter_img whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryHero WarsThis game will keep you up all night!Hero WarsMaternity WeekA Letter From The Devil Written By A Possessed Nun In 1676 Has Been TranslatedMaternity WeekThe No Cost Solar ProgramGet Paid To Install Solar + Tesla Battery For No Cost At Install and Save Thousands.The No Cost Solar Programinvesting.comThe Military Spent $1 Billion On this New Vehicle, And Here’s The First Lookinvesting.comMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailFungus EliminatorIf You Have Toenail Fungus Try This TonightFungus EliminatorBeverly Hills MDPlastic Surgeon Explains: “Doing This Every Morning Can Snap Back Sagging Skin” (No Creams Needed)Beverly Hills MDUltimate Pet Nutrition Nutra Thrive SupplementIf Your Dog Eats Grass (Do This Every Day)Ultimate Pet Nutrition Nutra Thrive Supplement Share whatsapp Express KCS last_img

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