Belgium: Belgian brewing group, Duvel-Moortgat, announced on March 15 a 20.3% growth year-on-year in its net profit for 2004. The brewer said net profit in 2004 reached EUR 8 million versus EUR 6.64 million in 2003. Brewery’s consolidated turnover increased by 8.4% to EUR 71.4 million. EBITDA in 2004 rose by 10.4% to EUR 19.7 million. Consolidated operating profit (EBIT) increased by 10.1% from EUR 11.3 million in 2003 to EUR 12.5 million in 2004. The company’s board of directors plan to propose that the gross dividend be raised from EUR 0.53 a share to EUR 0.58 a share.

The sales of its main beer brands increased last year: +9% for Duvel, +15,7% for the three Maredsous beers, Vedett doubling, Bel Pils remained flat. Brewery’s sales increase by 6,45% in Belgium. In the Netherlands turnover increased by 2,7%, in France by 10,3%, in the United Kingdom by 9,3%, in Czech Republic by 9,9% and in the United States by 40,4%.

The company said that, this year, planned investments amount to EUR 8 million. Given the current trends on the Belgian beer market, Duvel-Moortgat said that it expects a turnover increase this year of 5% and a rise in net profit of between 5% and 7%.

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