C&C boosted by UK cider sales

IRISH drinks company C&C expects its underlying 2011-12 earnings to rise between seven and 14 per cent, boosted by a rise in UK cider sales.

The company said it had met full-year forecasts, with earnings before tax reaching €100.5m, and said expectations for the forthcoming year had been raised following strong sales of its Magners cider brand in the UK.

Chief executive John Dunsmore said sales were helped by the good weather over Easter.

Dunsmore also forecast British cider market growth of 10 per cent.

C&C’s underlying full-year earnings rose by a third overall, with a four per cent increase in sales of Magners in the UK.