C&C Group, the company behind Magners cider, has issued its second profit warning in the space of three weeks.

Half-year operating profit to 31 August was expected to be down 35%, the company warned in a trading update.

“Trading performance deteriorated at an unexpected rate during the second half of July and C&C's cider sales for the month declined significantly on the same period last year,” it added.

Last month the group warned that very poor weather in June and July, and heavy price-led competition, could hit its full-year operating profit.

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