Pre-tax profits up 16% at C&C

Drinks group C&C has reported a 16% increase in full-year pre-tax profits, despite seeing core revenues in its Irish cider business fall by nearly 9%.

The Dublin-headquartered group — which is still chiefly known for its twin cider brands of Bulmers and Magners — generated profits, before tax and exceptional items, of €106.1 million for the 12 months to the end of February; up by 16% from the €91.5m reported in the previous year.

Operating profit, before exceptionals, was up by over 10% at €111.2m; while net group revenue fell by 4.8% to €480.8m.