Magners are downsizing everything as a result of the recession, euro vs pound exchange rate, bad weather and customers wising up to the relatively inflated price of brand advertised so-called premium ciders. This leaves them with an enormous lake of unneeded apple juice, or is it a glacier of concentrate?
?C&C also said that its stock holding of apple juice was excessive in light of what it will need in the future. The intended disposal of this surplus stock will result in a write-down of approximately €11m.
What does an amount of apple juice that can lose value to the tune of €11m look like?
