Bulmer warns on profits after cheap beer knocks cider sales
Thursday 26 February 1998
Bulmer blamed a flood of cheap beer and lager imported by supermarkets over Christmas which seduced drinkers away from cider.
The strength of the pound and lower duty rates on the Continent have tempted the likes of Asda, Tesco and Sainsbury to look overseas for cheap beer, which they have brought over to Britain in huge quantities.
John Rudgard, chief executive of Bulmer, said: "It is the first time I can ever remember that beer was cheaper than cider at Christmas. A litre of beer was selling for 70p while a bottle of Strongbow was selling for pounds 1.30."
Bulmer also made the mistake of increasing the price of White Lightning, its strong cider brand. It was forced to make an embarrassing U-turn and slash prices after volumes collapses as rivals chopped their own prices.
Last year was an annus horribilis for the cider industry. Bulmer's shares have collapsed from a peak of 626p and its present woes come in the wake of a profit warning from Matthew Clark.
- 1 Nigel Farage: Me vs Russell Brand on Question Time – he's got the chest hair but where are his ideas?
- 2 Harry Potter fans can apply to the Hogwarts-inspired College of Wizardry
- 3 Jessica Chambers: 19-year-old woman 'doused with lighter fluid and burned alive' in the US
- 4 Russell Brand calls Nigel Farage 'poundshop Enoch Powell' in BBC Question Time debate
- 5 Orange Wednesdays are no more
Weather bomb in pictures: Storms cuts power for tens of thousands – and snow is on the way
Jessica Chambers: 19-year-old woman 'doused with lighter fluid and burned alive' in the US
Russell Brand calls Nigel Farage 'poundshop Enoch Powell' in BBC Question Time debate
Russell Brand was rendered speechless on Question Time by this man
Fury at Airbus after it hints the super-jumbo may be mothballed
Disgruntled RBS worker writes hilarious open letter to Russell Brand after anti-capitalist publicity stunt leaves him hungry
Nigel Farage's approval rating hits 'record low' as popularity suffers in wake of Ukip sex scandal
Nigel Farage defends Kerry Smith 'ch***y' comment: 'If you are going for a Chinese, what do you say you’re going for?'
Pakistan school attack live: Taliban kill at least 132 children in 'horrifying' massacre
Sony hack: Angelina Jolie branded 'seriously out of her mind' in further embarrassing leaked email saga
Panic Saturday: 13 million Britons spend £1.2bn – while 13 million others across the country live in poverty unable to afford food
iJobs Money & Business
$200 - $350 per annum: Carlton Senior Appointments: Managing Producer Office...
$125 - $225 per annum: Carlton Senior Appointments: San Fran - Investment Advi...
Up to £70,000 per annum + benefits: Sheridan Maine: Are you a qualified accoun...
Up to £65,000 per annum + benefits: Sheridan Maine: Are you a qualified accoun...