Results Round Up
Full year revenue fell 8.1% at Magners cider group C&C Group to €679m, reflecting weak market conditions linked to low consumer confidence and poor weather.
The firm, which sold its soft drinks business to Britvic last year for €246.6m, also reported a 37.3% slide in operating profit before exceptional items for the year ended 29 February to €125.2m.
Cider sales volumes dropped 11%, blamed on the loss of market share by Magners in Great Britain, poor summer weather and a hike in operating costs and marketing investment.
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Housebuilding and property firm Oakdene Homes saw profits for the year fall to £5.5m from £8.2m and said home sales will be at lower levels for the rest of the year.
The group said housing market was strong in the first half but it had little to sell. Its last few units were virtually all sold by the end of June. Sales progressed well during the second half of the year but slower due to the banking crisis.
