Following the disclosure, Bulmer’s shares fell to a 12-month low of 307.5p and yesterday fell further to 205p.
UK: Bulmer chief quits as share price tumbles
The chief executive of the UK cider group, HP Bulmer, Mike Hughes, has quit his post after the company's disclosure on Monday of £3.3m in previously "unidentified promotional costs". The company also said its final dividend of 12.6p would not be paid.