AN IRISH cider company has announced that its profits are falling – due mainly to poor sales in Britain.
C&C, a company which produces well known Irish drinks Bulmers and Magners, revealed that its sales had dropped in the final quarter of last year in Britain.
The firm failed last year in a bid to take over Spirit, a British pub group, in an expansion plan.
A rise in competition is to blame for depleting numbers of bottles shifted in Britain, the company said.
Revenue from sales in England and Wales was down by 18.2 per cent last year.
C&C reported that it expects to close the financial year with profits of €115million, down from €127million just 12 months ago.
Overall, profits were also down for the drinks company, with sales volumes down 3.4 per cent in Ireland and 2.4 per cent in Scotland. American sales also took a big hit, down from 21 per cent to about 16.2 per cent in the past year.
The company is now taking several measures under consideration to boost its presence across Britain, following a disappointing 2014 in every corner of the country.
