Irish drinks group C&C said in a trading statement today that business in the first four months of its financial year is ahead of expectations, boosted by some good summer weather and a successful launch for its pear cider products in Ireland and the UK.

As a result, it says operating profits for the full year will be "at the top end" of its previous range of €77m to €82m. It is also being aided by sterling's recent recovery against the euro.

C&C said revenue for the four months to the end of June was 3% ahead of the same period last year, helped by a 3% rise in revenue from cider.

C&C has launched Bulmers Pear in the Republic of Ireland and Magners Pear in the UK. It says Irish cider revenue is up 7%, boosted by the new pear cider and its decision to cut the wholesale price of Bulmers pint bottles by 10% from the start of June.

Cider volumes in the UK are down 4%, which C&C describes as a stabilisation after a 20% drop last year.

C&C's spirits and liqueurs business has been hit by the difficult economic environment. Revenue is down 12% so far and C&C expects profit in this division to fall by as much as a third in the current financial year.

C&C says its re-organisation and re-structuring programme at the Clonmel facility is progressing in line with expectations. Since the programme was announced, employment terms and conditions have been modified, headcount has been reduced by 120 and a pay freeze has been implemented (with some wage reductions agreed in certain areas). The group says the programme is on track to deliver the expected €5m of savings in the current financial year. Modifications to the Group’s procurement initiatives are also delivering synergies and savings. Despite the changes to working practices and conditions, customer service levels have been maintained.

Trading update