18 March, 2003

The Belgian brewery group, Duvel Moortgat, has reported a consolidated turnover rise of 10.5% from EUR 52.5m to EUR 58.1m. “This growth, which is carried through in all priority markets, can be exclusively attributed to internal expansion,” the company said. Operating income rose by 10.6% to EUR 59.5 million.

The company has registered a net profit of EUR 6.8 million for 2002, representing no growth from 2001. The company has registered an after-tax profit rise of 9% from EUR 5.4m to EUR 5.9m.

Sales in Belgium rose by 7.8%, while sales in the Netherlands were up by 1.3%. The company's sales in France rose by 11.6% from 2001.

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