Magners maker C&C Group has announced a drop in both profits and sales for the six months to 31 August.
Sales at the Irish cider maker were down 6.3% on a constant currency basis to €257.5m, while profits for the period 2% to €57.4m. C&C said volumes of cider had remained flat over the six months to 31 August, while spirits were down 15%.
“Following a positive start to the first half, trading conditions in August and September have been more challenging,” said chief executive John Dunsmore. “However, we remain on track to deliver on the objective of stabilised volumes and a full-year operating profit outcome in line with our stated guidance.”
Dunsmore said C&C would be reviewing its marketing strategy in the wake of the group’s £180m acquisition of the Tennent’s lager brand from AB InBev, which he called “a great opportunity to strengthen our route to market and broaden our product portfolio”.