Bulmers Irish Cider witnessed a steep decline in sales during the summer, attributed to one of the coldest summers Ireland has experienced in almost ten years, as revealed in the half-yearly results announced by C&C group on Tuesday. Despite this, the group, also known for manufacturing and distributing Tennent’s lager, asserts that it is on track to generate operating profits close to €80 million for the full year, given that pre-tax profits exceeded €40 million in the six months leading up to August’s end. Earlier this year, CEO Patrick McMahon resigned from C&C amid the discovery of a succession of bookkeeping discrepancies. Nevertheless, the company maintains that its profit projections are bolstered by the increased market share of both Tennent’s and Bulmers, notwithstanding the drop in sales during the observed period, a result of the uncommonly cold weather in the UK and Ireland. More updates to come…
