Shares in Irish drinks group C&C fell by nearly 2% on the back of Heineken reporting further cider sales growth.

The Bulmers, Magners and Tennent’s drinks firm, C&C Group, says it is seeking further savings and exploring the potential for contract manufacturing as the pressure on sterling following the unexpected outcome of the UK general election last month continues to weigh.

Executive pay levels at Irish drinks group C&C fell nearly 15% in its last financial year, to just over €2.2m, after management missed yearly performance targets resulting in non-payment of bonuses.

Shares in C&C climbed by nearly 3% yesterday as the Irish drinks group gave an upbeat outlook for its current financial year, backed by a better-than-expected dividend lift for investors.

C&C has been urged by trade unions to find a buyer for one of Britain’s oldest cider plants.

C&C is defending its decision to let more than 100 staff go at its bottling plant in Co Tipperary.

A cost-cutting review at C&C in Tipperary is resulting in the loss of over 100 jobs.

C&C’s play for the UK operations of Danish brewing giant Carlsberg may be revisited.

C&C Group today announced its results for the year ended February 28, 2015.