C&C Group reported a bumper rise in full-year profits following strong growth from its Magners cider brand.
Operating profits for the year to 28 February were up 17% to €105m (£92.5m) following 3.6% volume growth for Magners in Britain and 33.8% export growth. Volumes of Bulmers declined 2.4% year-on-year in what C&C called “a challenging Irish market”.
C&C forecast operating profit to be between £95m-£101m (€108m-€115m) for the coming financial year.
“Our principal cider brands, Bulmers and Magners, are in good health,” said chief executive John Dunsmore.
“The group’s balance sheet strength and cash-generation capability provide us with financial flexibility to invest in the continuing development of our business and to support our brands.”
Magners credits revival to a better methodology (5 March 2011)
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