C&C has reported lower revenues and operating profits for the year to the end of February as competitive pressures in Ireland and currency factors hit the drinks company's bottom line.

C&C said its net revenue for the year fell by 4.9% to €548.2m, while its operating profits were down 7% to €86.1m from €92.6m the previous year. 

The company, added however, that its results were in line with expectations despite weather disruption across the sector. 

It said it was proposing a final dividend of 9.37 cent per share, which takes the total dividend for the year up to 14.58 cent, up 1.7% on the previous year. 

Stephen Glancey, the company's chief executive, said that while the trading environment in C&C's key markets of the UK and Ireland remained challenging, its branded portfolio returned to volume and revenue growth and outperformed the broader market.

The CEO added that trading in March and April for the company has been in line with its expectations and C&C remained confident in its outlook.

C&C said that revenues in its Great Britain operations rose by 4.3% to €459.8m, with operating profits 3.9% to €38m with the improvement driven by its Scottish business.

It said that investment behind its Tennent's brand is driving market share and revenues rose 5% on flat volumes.

C&C's Magners cider brand saw strong growth of 9% in the second half of the year, on the back of new listings in impluse, wholesale and draught channels. 

Revenues in its Ireland division fell by 4.4% to €312m, while operating profits were down 6.7% to €40.1m from €43m the previous year as the competitive landscape across the island of Ireland remained "intense".

C&C noted that "significant" new product launches by major international brewers in both the beer and cider categories continued to heighten competition for bar space and consumer attention.

The division's financial performance was also hit by the revised terms of C&C's distribution deal with AB InBev for their beer portfolio in Ireland.

C&C said that revenues in its International division fell by 14.9% to €41.6m while operating profits were down 1.5% to €6.5m.

But it said it saw another strong year for its craft and super-premium brand portfolio, with Menabrea increasing its volumes by 53% and Heverlee up by 35%. 

The company also increased its investments in Dublin craft brewery Five Lamps and the Somerset craft cider brand, Orchard Pig.