C&C profits to fall short of estimates

INCREASED competition and weak consumer demand for cider means drinks’ group C&C will report operating profit that will miss analysts estimates for the full year.

C&C shares dropped 8.3%, yesterday, following the profit warning, the steepest decline since December 1.

The Dublin-based firm said operating profit will fall to about €90 million in the year ending February 28, from €124.2m a year earlier.