In 2006 the firm, which supplies beers, wines and soft drinks to pubs in the west and northwest of the country, had a turnover of 29.3m compared with 30.8m the previous year.

As a result, pre-tax profits fell by almost 25 per cent to 477,205, despite decreases in administrative and distribution costs during the year.

However, the firm's net profits rose from 226,200 in 2005 to 399,027 because the company ended a redundancy programme, which cost it almost 365,000 in 2005.

The figures also reveal that there has been an increase in the deficit in one of Heineken's pension schemes, the Keg Distributors Pension Scheme, a defined benefit scheme.

According to the accounts, the scheme had a net deficit of 110,000 at the end of 2006, compared with 44,000 the previous year. The majority of the pension fund is held in equities with a small proportion of bonds and other assets.

Western Beverages paid 78,320 in contributions into the scheme last year, compared with 66,923 in 2005.

The company was originally founded in 1998 by the merger of the packaged licensed trade interests of Clada Soft Drinks in Galway, the producers of Galway Spring Water, and Donegal's Mulrine Beverages.

Its founders aimed to counteract what they viewed as the excessive concentration of ownership among a handful of large players in the drink distribution industry in Ireland.

However, Heineken took a 50 per cent stake in the firm soon after its foundation through its subsidiary, Murphy Brewery. It bought the remainder of the company in 2003.