Bulmers cider maker C&C shares jump 5% despite forecasts of a fall in revenue

The alcoholic drinks maker has been operating “against a difficult market backdrop”, according to CEO Patrick McMahon.

C&C reported an operating profit of €84m in the year to the end of February, surging 75% compared to the previous year.

Bulmers cider maker C&C shares jumped more than 5% despite forecasting lower revenue for the first six months of the year.

C&C said it expects net revenue to reach €870m, a decline of 1% on the same period a year earlier, as cost pressures bite.