C&C Group has today restated revenue data for four months to June because figures it released last week contained inaccuracies.
Rather than a 3 per cent gain in overall revenues for the period, the actual result was a fall of 5 per cent, C&C said today. Shares in the cider-maker were down 9.5 per cent at €2 in Dublin at 8.30am on the news.
Cider revenues fell 6 per cent in the four months period, rather than the 3 per cent gain reported last week, the company said.
Cider sales in Ireland were flat and in Britain were 12 per cent lower. Spirits sales were down 22 per cent, rather than the 12 per cent reported last week.
The company said today “preliminary, unaudited revenue details provided within the trading statement were inaccurate”. It said guidance on volumes, and operating profit remained unchanged.
In this morning's statement the group said trading in its cider division was encouraging and that it plans to invest €8 million in supporting its brand.
"With this investment, the Group expects to report an operating profit outcome for full-year 2010, at the top end of the Group's previously stated guidance range of €77 million to €82 million."