Shares plummet by 16% as firm forced to revise figures

THE makers of Bulmers and Magners cider, C&C, saw 16% wiped off its market value yesterday.

The dive in the share price was caused when the group had to correct some of the figures issued as part of last week’s trading statement, when it said sales for the first four months to end June were up 3%, boosted by a 3% increase in cider demand.

It was forced to contradict those figures yesterday pointing out that sales fell by 5%, while sales in its critical cider division were down 6% overall.