The Belgian brewer, Duvel Moortgat, posted consolidated sales of €31.5m for the first six months of 2003, representing a 14.25% increase from the first half of 2002.

The company said like-for-like beverage sales grew by 12.23% to €30.93m. Operating income rose by 12% from €28.4m to €31.8m, while EBIT was 7.37% higher at €5.4m. Consolidated income after tax increased by 12.83% to €2.8m.

Total beer volumes rose by 10.41%, with domestic volumes increasing by 7.84%. Duvel Moortgat said its sales outside Belgium rose by 16.33% and now comprise 32% of total sales volumes.

The company said it is expecting turnover growth of between 5% and 10% for the full 2003 fiscal year, while net profit for the full year will be on a par with 2002.