Bulmers volume up but revenues down in challenging environment
Bulmers maker C&C has recorded strong growth in the sales of its UK brand Magners in the first quarter of the year.
The company is also confident of hitting profit targets of €108m to €115m for 2011.
While the volume of cider sales here climbed, revenues dropped with prices lower in a challenging environment in both Ireland and Britain.
Bulmers volumes rose 2.7pc but sales were off 3.3pc
“The fine weather over a prolonged bank holiday season provided some respite from the challenging consumer and macro-economic environment in Ireland and the UK. Against this backdrop, the business delivered a robust performance in the first quarter,” C&C said in a statement.
In the case of the recently acquired Gaymers brands – sales fell by over 32pc but revenue increased by 27pc with growth coming from the US and Australia.