It has been reported that the drinks firm C&C, which has been behind the Magners cider, has been experiencing a huge decline in their profits. However, it was also announced that the decline in their sales, which has been going on for a long period time has also began to ease a little.

It has been made clear that the Company, which is primarily based in Dublin, saw the profits fall to ?67.4 million from what used to be about ?77 million in the previous year.

It was also revealed that they had incidentally faced with a loss of more than ?133 million in the year 2009 while a revaluation of their assets was being factored.

However, the Company has predicted that things would change for them and they would actually have a growth in the earnings in the year 2010. It was an interesting fact that the fall of sales has really come down from the 17 per cent the previous year to the current 4.9 per cent.

The Company was also planning to make two acquisitions with Tennents and Gaymers, which they believe would help by encouraging the Company to grow.