C&C AIMING TO EXPAND CIDER SALES - Sporting events like the World Cup, along with good weather, usually mean good things for cider sales, but C&C's results for the six months to the end of August show that in Ireland sales of Bulmers fell slightly, while Magners rose slightly in the UK.
In a statement this morning the company said that economic conditions in the group's core markets of Ireland and the UK remained unpredictable and challenging.
C&C chief operations officer Stephen Glancey said Magners in the UK had grown for the first time since 2007, with exports of the brand up 34%.
Mr Glancey said C&C had launched pear and berry ciders in the last couple of years, and he expected more new flavours and brands over the next few years. He said the UK cider market was the biggest, and was critical for its future, but C&C was also trying to develop in the US and Australia, where there were 'encouraging signs'.
Mr Glancey said the Irish market remained difficult, though the group welcomed the cut in excise duty in the Budget. In the UK, he said the overall cider market had grown by 4%, and C&C was aiming to match this growth.
***
NEWS AND CURRENCIES - A report from PwC on the Irish entertainment and media industry has forecast that the value of the Irish advertising market will fall by just over 5% this year.
On the currency markets, the euro is trading at $1.3814 and 87.07p sterling.
