Rosy with cider

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Manufacturing News, Source : TheManufacturer.com
Published : 10 May 2007 9:59
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Renewed popularity of cider among trendy drinkers has helped Magners maker, Irish group C&C, see a massive 84 per cent jump in its yearly profits.

Growing cider sales, particularly of Magners , boosted revenue by 27 per cent to £515 million, higher than expected.

Strong growth at its high-margin cider division, where revenue rose 86 per cent, explained the sharp gain in profits relative to sales, C&C said.

The group also announced it remains on track to meet its earnings goals for the year ahead.

C&C confirmed plans to take Magners into other markets, saying it was carrying out market tests in Barcelona and Munich. But the group added it would not make any decisions before October.

"We hope to be positively surprised by the reaction but we don't want anybody to get ahead of themselves," said CEO Maurice Pratt, pointing to different drinking cultures relative."We've always said the risk factor is greater," he added.