IRELAND: Cider gives fizz to C&C revenues
Strong cider sales are set to drive full-year revenues at Irish drinks producer C&C Group.
The company, whose drinks stable includes Magners cider and Tullamore Dew Irish whiskey, said in a trading update today (27 February) that turnover for the year to 28 February was expected to be up 9%.
Cider sales are expected to have risen by 30% following last year's "successful" roll-out of Magners in London and strong growth in Scotland. Bulmers cider, the name under which Magners is sold in Ireland, saw sales rise 6%.
A decline in sales of Carolans cream liqueur is expected to weigh on sales from C&C's international spirits and liqueurs division. Tullamore Dew enjoyed "strong growth", C&C said.
Trading conditions in the soft drinks division were "difficult", the group said, adding that it was "taking steps" to improve the performance of the unit.
C&C's full-year preliminary results will be announced on 9 May.
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