Magners maker C&C hit by cold and drink driving squeezeComments Off on Magners maker C&C hit by cold and drink driving squeeze
It also said its Scottish business had been hit by the lower drink-drive limits which came in just before Christmas.
C&C said that rural and community pubs, important outlets for its brands, had been particularly hit by the new rules.
The group, which also owns Tennent’s lager and Bulmers cider in Ireland, said despite the weak trading environment it was continuing to invest for the long term.
It said this should produce “modest earnings growth”.
Cost savings have been pushed towards higher marketing spend with new campaigns for Tennent’s and Bulmers reportedly well received.
C&C said its slimmed-down England and Wales business had had a positive first quarter with trade matching its plans for a more stable share of the cider market.
The shares fell 11 cents to €3.35.