Bulmers Q1 volumes up, revenues down
However despite a volume decrease of 7.2 per cent, total cider revenues for C&C remained “broadly unchanged” in Q1 thanks to sales of Magners being up 14.9 per cent with net revenues up 11.5 per cent. Magners export volumes grew 32.4 per cent with net revenues up 26.9 per cent. Australian and US sales provided much of this growth.
At the same time, the Group’s beer revenues through Tennent’s Lager also showed net revenue growth at 5.9 per cent outstripping volume growth of four per cent with “good progress” continuing to be made with the brand in RoI. C&C’s overall beer sales were up 6.9 per cent in volume and 12.1 per cent in value (including Third Party brands).
According to the Group’s Interim Management Statement, “The fine weather over a prolonged bank holiday season provided some respite from the challenging consumer and macro-economic environment in Ireland and the UK. Against this backdrop, the business delivered a robust performance in the first quarter”.
However trading in June has been relatively weak in comparison to the prior year with poor weather in Ireland and the UK adding to the challenge of last year’s World Cup comparatives, warned the Group which intends to invest further behind the Magners brand.
While Bulmers volumes were up in the first quarter of parent company C&C Group’s financial year, net revenues were down by 3.3 per cent with price decreases of six per cent underlying the figures.
