C&C, the owner of cider brand Magners, says it expects operating profits for the first half of the year to be adversely hit by its heavy investment in brand marketing. C&C also expects profits to be further hit by the bad weather in June and July of this year.
The group, however, reported like-for-like revenue growth of 15% for the three months ending May 31. Total branded cider sales volume in the period increased by 38%.
C&C says the rise reflects the growth in Magners across Great Britain and sister brand Bulmers in Ireland.
The company adds that it is likely to update the market in October on the launch of Magners in Germany and Spain.
C&C recently offloaded its soft drinks business, including water brand Ballygowan, to Britvic.