Drinks group C&C today said it slipped up on cider figures in its trading statement, which it issued last week. Today, it issued a correction.
C&C said last week that revenue for the four months to the end of June was 3% ahead of the same period last year, boosted by a 3% rise in revenue from cider.
This morning it said revenue in the period was down 5%, with a 6% fall in cider revenue. Irish cider revenue in the period was flat, not 7% ahead as reported last week, while UK cider revenue was 12% lower.
Revenue in the spirits and liqueurs division was 22% lower than a year earlier, not 16% as reported last week.
However C&C said the changes did not affect its profit outlook. It said last week that operating profit for the full year will be "at the top end" of its previous range of €77m to €82m.
The trading statement was viewed as a positive development, in particular the successful launch of its new pear cider, in the aftermath of the ousting of the previous management team, led by Maurice Pratt.
Today's announcement for a PLC is embarrassing - - to say the least.
|
C&C Group |
Revenue | 4 months to 30 June
Change year-on-year
Constant currency basis |
Volumes | 4 months to 30 June
Change year-on-year |
|
Cider |
(6%) |
Flat |
|
Cider Ireland |
Flat |
+4% |
|
Cider Great Britain |
(12%) |
(4%) |
|
Spirits & Liqueurs* |
(22%) |
(16%) |
|
Total |
(5%) |
|
