Bottle of cheer: Cider maker becomes the apple of City's eye after rising above competition to post pounds 20m profit

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Peter Adams, chief executive, and Nick Pearch, finance director, of Taunton Cider, allayed City fears over competition from producers of economy brands. Taunton's shares climbed 12p to 162p in response to profits rising from pounds 17.6m to pounds 20.3m for the year to 30 April.

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