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Ad spending takes its toll on Magners
09.05.08
Magners is relying on the launch of its Irish cider at the pump this month in British pubs and bars to reverse an 11% slump in sales over the last year of cratering profits.
C&C, Magners' parent, said diving cider sales at a time of rising marketing spend sent its net profits for the year to the end of February crashing 42% to e103 million (£81 million).
Chief executive Maurice Pratt said: "I've been hearing that Magners is just a fad for the last three years. I believe it has become part of the repertoire of British drinking."
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