MAGNERS CIDER ENSURING C&C ARE EFFERVESCENT IN BRITAIN
C&C will be watching the British weather forecast with interest this summer as it pushes its Magners cider brand out across that market . . . and chief executive Maurice Pratt will be rooting for England to do well in the World Cup.
The company last week reported sparkling full-year results, with eps growth of 16% and the fizz coming largely from cider. Pratt is now gearing up to double C&C's share of the British cider market to 1% this year. "In Scotland, we have broken through 3% in the ontrade, " Pratt said. "In London, it is 1.3%."
The LAD (long alcoholic drinks) market declined in the UK last year, but cider grew by 6.7% against the sector.
Pratt dismissed the threat of competition from the likes of Scottish & Newcastle. "It is good news for us if more and more people are going to invest, as it will bring more people into cider."
In a sign of confidence, C&C is more than doubling its advertising budget for Magners to 30m over the next year, of which 60% is expected to be spent in the first half.
Despite the ramping up of investment, the company expects Magners to be "slightly profit positive" this year.
Buoyed by the British experience, Pratt said the company intends to investigate other potential markets before the end of this fiscal year. and carry out "test executions" next year.
CONBOY TAKES ON O'DWYER BROTHERS OVER CAPITAL BARS
SHIPPING entrepreneur Austin Conboy, who built up a stake in Capital Bars when it was a public company, is embroiled in a legal battle with publican brothers Liam and Des O'Dwyer.
Conboy has lodged a High Court petition to wind up Capital Bars Plc, the formerly public company delisted in 2002 after being bought out by the O'Dwyers.
The group pubs, which include such Dublin properties as Bad Bob's, Zanzibar, Howl at the Moon and The George, have since been transferred out of Capital Bars Plc.
The British company was placed in voluntary liquidation last month, and a statement of affairs filed with the British Companies Office showed assets of £33,707 ( 49,000) available for preferential creditors. Conboy holds a stake of about 9% in Capital Bars PLC.
IBI GET NEW CEO IN BRENNAN
BANK of Ireland appointed Roisin Brennan (41) the new chief executive of IBI Corporate Finance, to succeed Peter Crowley when he steps down this September after seven years in the post.
Brennan joined IBI in 1990 and became a director in 1995.
Crowley said he was leaving to "pursue new opportunities" but did not specify a new role. He leaves the organisation in a strong position, as a financial adviser to more than 40% of publicly quoted Irish companies.
EUROPEAN COPYRIGHT CLEARANCE REGIMES CRITICISED
THE European Cable Communications Association (ECCA), of which Chorus owner Liberty Global is a member, called on the European Commission last week to harmonise national copyright clearance regimes. The ECCA said that the current regime is "inefficient" and that cable operators who are facing complex negotiations with numerous copyright collecting organisations are "often uncertain as to which entity can clear specific rights, and are sometimes hindered in getting the necessary copyrights to provide new services such as video on demand". The ECCA maintains that copyright clearance issues are becoming increasingly important as the media and telecoms markets converge, and new ways to distribute content evolve.
The ECCA wants a system where cable operators can buy all the necessary copyright directly from broadcasters, while it also wants broadcasters and content providers to be able to clear all their required rights at an EU organisation "of their choice".
CLONSKEAGH TO GET A TASTE OF MALAYSIA
MALAYSIAN food importer ManMa will host a Malaysian food product exhibition at the Islamic Cultural Centre in Clonskeagh on Tuesday from 10am. It will feature food demonstrations and products as well as a visit from the Malaysian minister of Entrepreneur and Cooperative Development Malaysia.
HEINEKEN CUP SCORES WITH SCOTTISH SPONSORSHIP AWARD
WITH just a week to go before the 2006 Heineken Cup final in Cardiff between Munster and Biarritz Olympique, Dublin-based tournament organiser ERC (European Rugby Cup) is already celebrating. Last week the 2005 Heineken Cup, in which French club Toulouse bested compatriots Stade Francais at Murrayfield, scooped up the Scottish Sponsorship of the Year Award for Heineken at a Glasgow awards dinner.
David Williams, chief executive of EventScotland, said: "The Heineken Cup final is a great example of the benefits to be gained by working in a successful partnership.
"Attracting a crowd of 52,000 to an allFrench final is a terrific achievement which generated an economic impact of £12 million to the city of Edinburgh."
KERINS TO TAKE OVER AS REHAB BOSS FROM FLANNERY
ANGELA Kerins will succeed Frank Flannery as the chief executive of the disability charity Rehab when he steps down later this year, the group announced last week. Rehab has an annual turnover of 160 million. It delivers services to more than 60,000 people each year across a network of 200 centres in Ireland and the UK run by some 3,000 staff.
Kerins was previously a director responsible for development and public affairs with the organisation, as well as heading up RehabCare, the health and social care division of the group. In addition, Kerins chairs the National Disability Authority.
Ms Kerins said: "This is an historic time for people with disabilities in Ireland. For the very first time we now have a national strategy, disability legislation and a 1 billion investment fund that can improve the lives of the many hundreds of thousands of adults and children with disabilities in Ireland."
Kerins also sits on the IBEC national executive, the Broadcasting Commission of Ireland and the advisory committee to ComReg.
|