C&C Group, the parent company of Magners cider and Tennent's lager, has posted what it describes as a 'solid' start to the year.
Bulmers cider volumes in Ireland were up 9% in the first quarter, to 31 May 2016, while Magners volumes were up 24% in the UK. Its Tennent's UK volumes rose by 5%.
In its core Irish market, the company said that 'some decent weather in March and May gave the cider category an early boost and the Bulmers brand enjoyed the benefit. There is momentum in the Corona brand and our wine portfolio and boutique beer range are beginning to perform. […] The strength of the portfolio in the North, backed by a willingness to invest in the on-trade through loan finance, delivered a number of good account wins in the quarter'.
Meanwhile, the 'recovery' of the Magners brand in the UK in late FY 2016 'continued in the first part of FY2017. The latest retail data in the off-trade shows the brand volume MAT to be +5% in a cider category that is down 2%'.
The group added that the fact that it is listed on both the Irish and London Stock Exchanges 'helps to provide a degree of balance to the risks associated with the UK’s decision to leave the EU'.
Article by Stephen Wynne-Jones, ESM Magazine.
