IRELAND: C&C Group director to retire

By just-drinks.com editorial team | 9 November 2007

C&C Group's managing director of its cider division which incorporates its premium cider brands, Bulmers and Magners, is leaving the company.

Speaking to just-drinks today (9 November) a spokesperson for C&C confirmed that Brendan McGuinness, who has spent 37 years at the group, has decided to retire from 1 May.

"He's not going until next year, so there is still quite a lot to be done that McGuinness is involved with until then," the spokesperson said.

C&C Group chairman Tony O'Brien added: "Brendan has been central to the successful development of the group's cider business in Ireland and, more recently, in the UK. He has made a significant contribution to the group both as managing director of the cider division and as a board member."

Last month the troubled Irish drinks group posted a 39% drop in basic adjusted earnings per share to EUR0.175. Operating profit dropped 33%, just above analysts' forecasts of EUR66.8m, to EUR67m.

Revenue for the period was flat at EUR375.6m and the group's branded cider volumes declined by 1%. Magners volumes increased by 2% year-on-year and, in the UK, on-trade distribution was 66% in July compared with 67% in February.

Sectors: Beer & cider