Drinks group C&C said today that trading over the key Christmas time was resilient despite some bad weather in the UK, adding that its full year operating profits are expected to be in line with current market expectations.
C&C manufactures, markets and distributes branded beer, cider, wine, spirits and soft drinks across Ireland and the UK and its brands include Bulmers and Magners cider, Tennents and Five Lamps beer and Tipperary Water.
In a trading update today, C&C said that over the ten month period to December, group's branded net revenue rose by 6%, while its distribution net revenue dipped 3%.
The company said that while current market conditions remain challenging, mitigating inflationary impacts, improved operating efficiency, business simplification and gaining customers continue to be its operating priorities in the medium term.
"With increasing confidence in the medium-term outlook for the business and its strong cash generation capabilities, the Board reaffirms its intention to distribute up to €150m to shareholders over the next three fiscal years," it added.
C&C is due to publish its annual results in May.
