Sour taste for C&C after its sales slide

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That's how much apple juice the company behind Magners had in stock in readiness for sales that never happened.

C&C shares got a lift today as the new management team, led by former Scottish & Newcastle boss John Dunsmore, offered a trading statement that, unusually, didn't come with a profit warning.

Sales for the year to February were down 13%, but this wasn't worse than the market expected. Dunsmore admitted there has been a "complete lack of visibility" for investors of where C&C is going, but hopes they are reassured by operating profit of 90 million. He insists the brand can be turned round.

He and the other top two managers are waiving bonuses they would have been entitled to next year.

The top team could land a multi-million pound windfall if the share price can be dragged over 2.50. It added 12 cents to 1.02 today.