Drinks group profits to grow €7m

Drinks group C&C is expecting operating profits, for its current financial year to grow by up to €7m on the previous 12 months; although earnings from its Irish operations are likely to remain flat.

In a trading update, published yesterday to coincide with its AGM, the Dublin-headquartered owner of the Bulmers/Magners cider brands said that operating profit for the year to the end of next February should be in the range of €112m to €118m.

In its last financial year, C&C delivered operating profits of €111.2m, which were up by 9% and above initial estimates.