Magners revision reveals revenue drop
Published:  13 July, 2009

Shares in Magners owner C&C Group have plunged after the company revealed it had released incorrect figures in an earlier trading statement.

Revised revenue details showed a 5% drop in revenues in the four months to June 30.

C&C had originally stated that revenues had seen a 3% increase year-on-year.

The revision caused C&C’s share price to drop almost 10% on the London stock market this morning.

C&C said revenues from Magners cider in the GB market fell 12% on a volume figure of –4%, which was as originally stated.

The updated statement said: “As previously outlined, the group intends to commit to an additional €8 million of brand investment following recent good weather conditions

“With this investment, the group expects to report an operating profit outcome for the year at the top end of the previously stated guidance range of €77 million to €82 million."




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Lifting the spirits

I were to sum up alcohol sales over Christmas 2017 in one word, it would be “gin”. At Nielsen, we define the Christmas period as the 12 weeks to December 30 and in that time gin sales were £199.4 million, which means they increased by £55.4 million compared with Christmas 2016. There’s no sign the bubble is about to burst either. Growth at Christmas 2016 was £22.4 million, so gin has increased its value growth nearly two-and-a-half times in a year. The spirit added more value to
total a

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