Results posted today for food and drinks firm C&C show a first-half operating profit of €64.2 million.
The company said it fully expected to meet market forecast for earnings for the full year thanks to favourable conditions in Irealand.
"While the impact of the smoking ban, over the winter months, is unpredictable, the group believes that it is on track to deliver earnings in line with current market expectations," C&C Chairman Mr Tony O'Brien said.
Speaking on radio this morning, group chief executive Mr Maurice Pratt said the results were "modestly ahead of expectations of the market, and a very good start for us in our life as C&C".
It is the first-time C&C has posted interim results since its flotation.
C&C said that it would pay an interim dividend of €0.055 per share after earnings per share (EPS) rose 27 per cent to €0.146.
Overall, the group's operating margin slipped to 16.6 per cent from 17.3 per cent in the first half of 2003, despite an improvement at the international division.