Britain's biggest cider maker Bulmer has unveiled a slump in profits, citing weak overseas demand amid stiff competition from popular ready-mixed drinks such as Bacardi Breezer.

We are going through a rocky patch

Bulmer finance director Alan Flockhart

The company said on Monday that profits before taxes and one off costs for the year to 26 April fell by 26.2% compared with the previous year to �21.1m.

The figure was in line with a revised profits estimate published late last week.

In the City, Bulmer shares closed unchanged at 307.5p on Monday.

Strongbow leads

Bulmer's said sales of its flagship cider brand Strongbow grew strongly in the UK, while its premium beer brands San Miguel and Amstel also turned in a strong performance.

But UK sales of its other cider brands Scrumpy Jack, Woodpecker, and White Lightning were flat.

And overseas, sales wilted in the face of booming demand for ready-mixed drinks, reducing international operating profits by �4m.

Sales were down in Australia and North America, and the company is in the process of pulling out of South Africa altogether.

Rocky road

The company has also begun scaling down its US and Australian operations.

Bulmer, which makes two thirds of Britain's cider, acknowledged that its international expansion will now be slower than previously thought.

"We are going through a rocky patch and what we have got to do now is to keep steady and not overexcite anyone's expectations," Bulmer finance director Alan Flockhart said.