Shares in Bulmers' owner C&C surge as cider maker eyes €55m full-year profit

C&C Group chief executive David Forde said he would be 'reasonably comfortable' with the near-term profit outlook, but warned such an outcome was reliant on there being no further significant Covid-related setbacks in its core markets of Ireland and the UK.

Shares in drinks group C&C surged more than 6% on the back of the Bulmers cider owner saying it was confident of shrugging off Covid restrictions and supply chain challenges to return to a full-year profit in its current financial year.

The group – which also owns Magners cider and the Five Lamps and Tennent’s beer brands – posted an operating profit of €16m for the six months to the end of August.