C&C share price fizzes as reopening prompts return to profitability

Shares in the maker of Bulmers and Magners ciders jumped as much as 4.7% in early trading.

The recent reopening of indoor and outdoor hospitality in Ireland and the UK seems to have helped Bulmers cider owner C&C return to profit in the first half of its financial year.

Drinks group C&C has said it expects to have returned to profit in the first half of its current financial year, with the announcement sending its shares higher.

In a trading update, covering the six months to the end of August, the Bulmers and Magners cider owner said it saw “a strong return to trading” driven by a number of factors, including a boom in ‘staycations’, the European Football Championship, good weather conditions, and the reopening of bars and pubs in Ireland and the UK.