News

UK: Bulmers shares slip in advance of disappointing results

Most popular

Remy Cointreau Performance Trends 2016-2020

Campari and Cuervo - The next big spirits buy?

just-drinks meets Stoli Group CEO Hugues Pietrini

White spirits trying to ride hard seltzer craze

Spirits gift boxes will not be missed - comment

MORE
UK cider company, HP Bulmer Holdings Plc, has said its year-end profits would be below market forecasts prompting its shares to slide to a 40-month low. The company also said it planned to take restructuring charges. On Friday morning, the company's shares were 11.6% down at 294p, their lowest level since March 1999, which values the company at £156m.

Bulmer, which issued a profit warning in February, said it made a pre-tax profit of £21.1m in the year to the end of April 2002, virtually unchanged from 2000/01. The consensus forecast was for £23m. The full annual results are to be published on Monday.

The company, whose brands include Strongbow and Scrumpy Jack, also said it would take £12.4m ($18.9m) of exceptional charges with the exceptionals figure including restructuring costs in the UK, Australia and the US. Bulmer will also publish details of a review of its international operations. The company made no direct comment on the review but said that its international director, John Harvey, had resigned and that his role would be incorporated into the duties of UK managing director Tim Furse's new role overseeing group strategy.


Related Content

"At SABMiller, we went through a bit of disbelief and almost denial" - just-drinks meets Hector Goro...

The soft drinks & bottled water categories in 2018 - just-drinks' Review of the Year, Part II - FREE TO ACCESS

The soft drinks & bottled water categories in 2018 - just-drinks' Review of the Year, Part II - FREE...

"In other companies, the product is more important than the organisation. In Berry Brothers & Rudd, ...

Middle-class Millennials, working with Tencent and using Big Data – Pernod Ricard's operations in China - Focus

Middle-class Millennials, working with Tencent and using Big Data – Pernod Ricard's operations in Ch...

Oops! This article is copy protected.

Why can’t I copy the text on this page?

The ability to copy articles is specially reserved for people who are part of a group membership.

How do I become a group member?

To find out how you and your team can copy and share articles and save money as part of a group membership call Sean Clinton on
+44 (0)1527 573 736 or complete this form..



Forgot your password?