C&C shares surge as Bulmers owner back in profit despite Covid impact

Covid lockdowns may dent profits but C&C says its ciders and beer have been trading well, and it has hedged against inflation

Bulmers cider owner C&C Group expects to post a return to profit in its upcoming annual results, although the final figure will be lower than expected given recent Covid restrictions.

Shares in Bulmers cider owner C&C surged by more than 10% on the drinks group flagging a return to full-year profitability and its ability to withstand inflationary cost pressures.

The group — which also owns Magners cider and the beer brands Five Lamps and Tennent’s — is due to publish annual figures, for the 12 months to the end of February, in May.