Drinks manufacturer C&C has issued a trading statement this morning - a month after its second profits warning.
The company has had a torrid summer, and has previously blamed the bad weather for a slump in sales of its Bulmers and Magners cider brands both here and in Britain.
It said today that turnover, for the six months to August, is expected to be flat compared with the same period in 2006, while operating margin is expected to decline by around 9%.
It says that Bulmers cider volumes in the Republic are expected to decline by approximately 6% in the half year, while shipments of Magners to Britain are expected to be 2% higher than last year.
C&C said the performance, as previously stated, reflects the combination of weak demand and substantially increased marketing and manufacturing costs within the cider division.
Overall, turnover in the cider division is expected to be 1% ahead of last year with sales volumes down 2%.
Spirits & liqueur shipments are expected to increase 5%, mainly due to strong sales of Tullamore Dew Irish Whiskey.
The sale of the soft drinks division was completed on 29 August and the operating profit contribution is expected to be around €6m - a decline of the previous year due mainly to the very poor summer weather.
The company also announced this morning that its recommencing its share buyback programme in October.
C&C will provide guidance for the second half and full year when it announces its interim results on October 10.
