Drinks group C&C has said that trading so far this year has been satisfactory and in line with its expectations.
But in a trading statement covering the period from March to today, C&C said that if the current euro-sterling exchange rates are sustained, its financial performance for the year will be negatively impacted.
In today's trading update, C&C said that overall trade in Ireland has been "subdued" against strong comparatives with beer and cider.
Against this backdrop, the company relaunched its Bulmers cider brand in March and it said it was pleased at the response to the marketing campaign.
Under "intense" competition, C&C said that Bulmers lost draught distribution but saw growth in the grocery channel.
It also said its premium and craft portfolio in Ireland and the UK grew strongly, with Heverlee and 5 Lamps the standout performers.
In the UK, C&C said its volumes are slightly behind target in a flat cider market and compared to strong volumes last year. However, the company said it expects volumes to normalise during the key summer months.
C&C also said that in a flat market, its Tennent's beer brand is gaining share, supported by a new marketing campaign.
Its export division saw a solid start to the year, with Europe maintaining its strong performance from the previous year. But C&C saw a slower start in the newer markets of Africa and Asia.
C&C said its US business was "stable", but the cider category remains in negative territory, which it said is holding back any share recovery for its brands.
