Bulmers owner C&C says restrictions will continue to hamper growth

Pub closures decimate revenues and lead to losses

Bulmers cider owner C&C Group expects trading to be hampered for the remainder of its financial year after Covid restrictions and pub closures across Ireland and the UK decimated its first half revenues and dragged it into a loss.

C&C — which owns the twin Bulmers/Magners cider brands, as well as the Five Lamps and Tennent’s beer brands — reported an operating loss of €11.7m for the six months to the end of August, versus a profit of €64.4m for the same period last year. First half net revenue tumbled by 55.4% to €386.7m.