Canadian brewer Corby Distilleries has announced net earnings of C$19.2m for the six months ended February 29, 2004 compared with C$13.7m for the corresponding period last year.

The company said it succeeded in increasing its operating revenue through additional bottling contracts and favourable product mix. As a result, the Corby's earnings from operations increased by over 12% for the first six months of this year versus the first six months of last year. Furthermore, the 40% increase in net earnings for the six months ended February 29, 2004 was mainly due to a C$4.4m increase in the equity earnings from the investment in the Tia Maria Group.

On April 2, 2004, the Board of Directors of the Corporation declared a dividend of $0.50 per share payable on May 3, 2004 on Voting Class A Common Shares and Non-voting Class B Common Shares of the Corporation to shareholders of record as at the close of business on April 16, 2004.