C&C Group, the Irish drinks manufacturer behind Magners, has reported continuing sales declines as it battles falling consumer demand and strong competition from market leader Strongbow.
Revenue fell 13% in the third-quarter to 30 November, C&C Group said, with a 24% decline in its cider division in Great Britain.
The performance reflects very weak consumer demand, declining price yield, increased off-trade profile and strong competition in both markets, the company said in a trading update.
It warned overall operating profit for the year to 28 February would be around €90m, against €125.2m the year before.
published last month revealed sales of Magners slipped 1.8% to £70.5m in the year to 4 October. The brand trailed behind market leader Strongbow, which chalked up growth of 20.4% during the year.