Magners slows slide in sales

The maker of Magners cider, C&C, predicted that its earnings would grow this year after it managed to slow a slide in sales volumes of its flagship brand in Britain. The Dublin-based drinks firm, which acquired Tennent's lager in September, said market conditions were still challenging but that continued resilience in off-licence sales and the launch of Magners Pear had helped trading.

Sales volumes for Magners fell by 4.9 per cent in Britain in the year to February, following the 17 per cent drop seen a year earlier as the consumer boom in cider sales slowed.

It warned of year-on-year volatility in this year's figures due to a 10 per cent increase in cider duty in March, a rise absorbed by C&C.

The group spearheaded a revival in demand for cider across Britain in recent years, with sales soaring by 264 per cent in 2006 as the drink's popularity was boosted by a high-profile advertising campaign and hot summer weather.