Irish revenues at soft drinks firm Britvic, which owns Ballygowan and MiWadi, increased by 23% in the six months to the end of March.

The company said it implemented measures in the first quarter of the year to mitigate inflationary pressures, including price increases.

"The Irish business has delivered a significant improvement in operating margin, in line with our strategy," Britivic said in a statement.

Across all the markets, the company saw half-year profits increase nearly 50%, but it cautioned over falling consumer spending as the cost of living continues to rise.

It reported pre-tax profits of £59.3 million for the six months to the end of March, up from £39.8 million a year earlier.

Revenues jumped 18.5% to £719.3 million.

Britvic said "immediate consumption" sales benefited from the lifting of Covid-19 restrictions, and are now ahead of pre-Covid levels.

Simon Litherland, Chief Executive Officer said the current geo-political uncertainty is likely to result in continued cost inflation and pressure on consumer spending at least into 2023.

"I remain confident however that we will continue to successfully navigate the headwinds, thanks to our portfolio of leading brands, strong customer relationships, smart revenue management capability and the resilience of our supply chain and our people," Mr litherland said.

"This will enable us to maintain our positive momentum, progress our key performance metrics and strategic priorities, and continue to create value for all our stakeholders," he added.

The group also announced plans to commence an initial share buyback programme of £75m in the next 12 months, which the company said reflects the strength of their balance sheet and confidence in their growth strategy.