Merrion's backing off from its previously aggressive forecasts for C&C came after the market and the media talked up the stock through the second half of 2006, with Maurice Pratt scooping several awards.

One factor that may have affected Merrion's mood more than arguments over whether Magners cider was merely a hot London summer and World Cup 'fad' was the failure to get Magners into over 2,000 Tesco stores in Britain before Christmas due to a pricing dispute.

C&C on Friday recovered some lost ground, closing at Euro12.20.