Duvel Moortgat has announced a rise in net profit and revenue for 2003. The Belgian brewer, best known for its Duvel brand, said yesterday that net profit increased by 11.5% to €6.6m, compared to €5.5m in 2002.

Revenue also increased in 2003, to €65.9m from €58.1m year-on-year.

The company forecasts an increase in sales this year by around 7%, while profits should rise by between 7% and 10%. It intends to concentrate on improving its distribution in 2004, particularly in the US.