C&C's Profits Increase Due To Hot Summer
Published on Oct 30 2013 9:00 AM in General Industry
Makers of Bulmers cider C&C have witnessed their profits rise by 28% in the first 6 months of the financial year.
Revenues for the six months to the end of August increased by 27.8% to €336.7m while operating profits grew by 7.9% to €71.1m. The drinks group say the hot summer boosted their sales.
In Ireland, off-license sales lagged behind pub trades for the first time in 7 years. The drinks manufacturers experienced volume and revenue growth in Ireland as the Bulmers cider brand outplayed the long alcoholic drinks (LAD) market.
C&C added that significant progress has been made in the integration and repositioning of its US cider business. The is also investing in a craft brewery on its site in Clonmel, Tipperary.
C&C told the Irish Tines that its Tennent’s business is “performing well” in the UK providing a degree of balance to a competitive UK cider market.