C&C Group report 2% revenue decline

C&C Group have announced a 2% decline in revenue for the six months ended August 31 2012.

The drinks manufacturer, whose leading titles include Bulmers, Magners, Tennent's and Blackthorn, have seen shares rise by 0.28c (at 10.30am) as a result of the announcement, which also said operating profit declined 2.7% to €65.6m.

CEO of the group Stephen Glancey said: “Despite a very challenging trading and economic backdrop, the group’s results for the period demonstrate the resilience of our business model with a marginal operating profit decline of 2.7%.

"While our core cider brands Magners and Bulmers both saw volume declines in the period, other parts of the business performed well.

"The Tennent's brand continues to outperform with net revenue and operating profit growing ahead of the Scottish beer market. Our International business, including acquisitions, continues to grow at an exciting pace, with volumes increasing by over 50%."