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C&C reports pre tax profits of €110.9m in line with expectations

DRINKS company C&C has reported pre tax profits of €110.9m for the year to the end of February up from €79.5m reported for the previous year.

Net revenues fell to €480.8m from €509m and operating profits for the year rose by 9pc to €111.2m.

The drinks group also announced a 24pc increase on full year dividend.

Revenues at its Irish cider operations fell to €126.8m – a drop of 7pc – while operating profits in cider dropped 2.3pc to €42.2m.

Irish beer revenues rose by 16pc to €15.8m while operating profits soared over 200pc to €2.2m.

The company said that home consumption in Ireland accounts for 44pc of total consumption – up from 41pc.