C&C Group has said that it anticipates its operating profit to be ‘in the region of €103 million’, in a trading update issued today, 10 March.
The Bulmers and Magners maker said in the update that the “cider category in Ireland continues to lose share to other long alcohol drinks and the Bulmers brand has ceded ground to the distribution build of new arrivals.
"However, compelling rate of sale data for Bulmers should prove to be a key feature in performance stabilization in FY17."
It noted that distribution of Corona in the Republic and Heverlee and Clonmel 1650 in the North "go from strength to strength."
In Scotland, trading "picked up in the last quarter", while in its C&C Brands England and Wales business, Mangers picked up share in the cider category.
C&C issued the statement ahead of its Capital Markets Day, held today.
© 2016 - Checkout Magazine by Stephen Wynne-Jones