Magners head falls on sword

The chief executive of Magners maker C&C Group has quit amid falling cider sales and lower profits.

C&C head Maurice Pratt, who has served as chief executive for seven years, said he took the decision because his repositioning strategy over the past two years has not met expectations.

Mr Pratt said: "The past two years have been very challenging for C&C Group and despite our best efforts we have not achieved our ambitions for the business.

"As chief executive I have to be accountable and take responsibility for business performance. The company has to take important strategic choices and I have therefore decided it is time to stand aside and allow a new CEO to bring fresh thinking and impetus to the business."

Cider sales fell 12 per cent over the first half and operating profit dropped 0.7 per cent, the group said.

Dublin-based C&C is also expecting a "material drop" in profit for the second half of the year.

Magners sales initially soared following a successful advertising campaign and a trend for premium ciders.

However, two consecutive wet summers and lower consumer spending levels have taken their toll on the group, which also now faces competition from other premium cider makers.