Weak sterling to hit C&C Group earnings

Cider maker C&C Group has warned the weakening of sterling, in the aftermath of the Brexit vote, could damage earnings and wipe out the positive start it has made to its current financial year.

Shares in the group grew by nearly 7%, yesterday, before paring back slightly, on the back of a strong first quarter trading update, covering the period up to the end of June.

The group is chiefly known for its twin Bulmers/Magners cider brands and Tennent’s lager.