Bulmer’s said the costs came to light after a change in the management team at its off-trade business, dealing with supermarkets, off-licences and cash and carry outlets. And blamed the bad news on “administrative indiscipline”.
Auditors are to confirm the figure by the end of September.
In July Bulmer's said it would cut back its overseas operations and focus on the UK due to fierce competition from ready-to-drink products such as Smirnoff Ice.
Bulmer’s confirmed that restructuring at its US business had “significantly reduced losses”, and that performance of key brands Strongbow cider and San Miguel beer was “ahead of the market”.
For the year ended April 26 sales at Bulmer rose 11% to £585m. But pre-tax profit fell 26% to £21m.