ENGLISH cider maker Merrydown cashed in on the first wave of the alcopops boom, but the flood of new drinks on to the British market since the middle of last year has caused a serious dent in its profits, the company reported yesterday. Pre tax earnings dropped 42 per cent to £673,000 sterling for the six months to September 30th, from £1.16 million for the corresponding period last year.

The group said prospects for the second half of the financial year remained good, although they were dependent on successful pre Christmas sales.