C&C, the maker of Magners cider, has warned that profits will fall below market expectations.  The Irish company said operating profit for the year ending next month would be about €115m (£89m), down from €127m the year before and €10m less than analysts were expecting.

C&C is advancing plans to significantly reduce costs, which will return the cider business to acceptable levels of profitability, expand margins and increase investment behind the brand portfolio.  However, that will no doubt mean a further detriment in quality which can only be good news for artisan producers of craft cider.

The company said prices were under pressure because of too much supply as new brands and suppliers entered the market.  Does this mean all the craft cider suppliers are finally making a small dent into the big boys?

Let’s hope so!