CC GROUP'S sales of Magners cider fell 23 per cent at British pubs and restaurants in May, Goodbody Stockbrokers said, citing market research company AC Nielsen.

The Dublin-based company sold 35 per cent less cider during April, Goodbody said yesterday in a research note.

Scottish Newcastle's rival brand sold 26 per cent more cider on that basis in April and 60 per cent more in May.

CC shares fell to the lowest since October 2004 on July 11th after the company said sales have continued to fall this year. The stock plunged 70 per cent in 2007 as record rainfall dampened sales amid competition from Scottish Newcastle.

There were "no major surprises" in today's data, analyst Gavin Kelleher at Merrion Stockbrokers in Dublin said in a note.

"On a slightly more encouraging note for Magners, its share of the overall long alcoholic drinks market improved."

Merrion has a "hold" rating on CC.

The company's share of the market for beer and cider rose to 1.4 per cent in May, from 1.3 per cent in April and 1.2 per cent in March, Merrion said, citing the AC Nielsen data.

CC rose 18 cents to close at €2.73 on the Iseq. - (Bloomberg)