Geoff Percival Drinks group C&C has prematurely pulled the plug on its US distribution deal with brewer Pabst, firmly putting paid to any near-term sale of the Irish cider-maker’s American operations.

Cider maker C&C Group has warned the weakening of sterling, in the aftermath of the Brexit vote, could damage earnings and wipe out the positive start it has made to its current financial year.

C&C Group expects to post a 10.4% reduction in operating profits when it publishes its latest annual results in May.