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City File: Merrydown established in soft drinks market

MERRYDOWN, once a pure cider company, is now firmly in the fast-growing adult soft drinks market, thanks to the purchase of Schloer Apple Juice, PLJ and Piermont water. Profits to be declared tomorrow will be affected by reorganisation costs and may disappoint the market, which has marked the shares up to 288p, near their peak for the year. But since coming to the main market late last year Merrydown has attracted some serious institutional fans, including Henderson Administration.

Ignore cries that the shares are too expensive.