In spite of a decrease in profits in the first half of the year due to weakened cider demands in Britain, beverages conglomerate C&C intends to initiate a €15 million share repurchase venture on Monday. The makers of Bulmers and Magners Irish cider, who in August settled a deal with a proactive investor to appease a stockholder uprising over the group’s plummeting share value, prognosticated a 3% drop in net revenues for the six-month term ending in June. Albeit located in Ireland but listed in London, the collective remained unswerving with its year-end operating profit forecast, with estimates ranged between €39 million and €41 million. Expressing optimism, C&C affirmed the company’s target of generating €100 million in yearly operating profits by 2027. Further details will follow soon.
