Slump in sales for Magners maker

Jan 15 2010 By nebusiness

Magners firm C&C today said its cider markets remain challenging as it reported another slump in sales.

The Dublin-based company said cider volumes fell 9% in the three months to November 30, compared with the same period a year earlier, with Britain seeing a 13% plunge.

But C&C said it had seen a pick up in December, when volumes were 3% ahead amid late ordering from British trade customers.

The group expects a "modest" year-on-year decline in cider volumes for the full financial year to February 28, compared with a decline of 14% in the previous year.

It expects to report operating profits in line with previous guidance, towards the top end of a 77 million euro (£68m) to 82 million euro (£72m) range.