Magners brewer sees cider sales turn sour

C and C Group, the Magners cider brewer, posted a rise in pre-tax profits despite a decline in revenues during a challenging year for the company.

C and C Group, the Magners cider brewer, posted a rise in pre-tax profits despite a decline in revenues during a challenging year for the company.

Revenue fell from €770m to €716.7m, but a reduction in costs and finance expenses contributed to an increased profit before tax of €110.9 (2011 €79.5m), ahead of expectations of €105.13m. Earnings per share were also ahead of expectations at 29.4 cents, and almost eight cents higher than the previous year.

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