The UK's leading cider maker, Bulmer, said on Monday its annual profits had risen sharply thanks to increased demand for cider both in the UK and internationally.

The company, which makes the Strongbow and Woodpecker brands, said its pre-tax profits had risen 14% to �28.4m in the year to 28 April.

Revenues rose 6% to �335m, and the company's annual dividend was up 10% at 17.6 pence per share.

Bulmer shares closed up 17.5 pence (3.6%) at 510p on Monday in the wake of the profit figures.

Market share

The UK cider industry is worth �1.4bn a year, and Bulmer's flagship brand, Strongbow, makes up about a quarter of all sales.

Cider is now on the verge of joining the top 10 of long alcoholic drinks in the UK.

The company said its strong financial performance was also thanks to good growth in its international operations.

"More people are drinking more Bulmer brands than ever before," said Bulmer chief executive Mike Hughes.

With our strong UK base and our strategic positioning in the international marketplace, I am confident that Bulmer's has in place the structure and scope to build on this success and further increase our share of the long alcoholic drinks market," he said.

Bulmer has 40% of the US cider market following the acquisition of Green Mountain Cidery and has opened a new factory in South Africa, the world's second-largest cider market.

It also has operations in Australia, New Zealand and Belgium.

The company recently announced plans for a joint venture in China.