Duvel Moortgat has posted a healthy rise in net profit for last year. The Belgian brewer said yesterday (15 March) that net profit in 2004 rose by 20.3% year-on-year, reaching €8m. Consolidated turnover also increased, by 8.4% to €71.4m.

The company said that, this year, planned investments amount to €8m. 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%.

EBITDA in 2004 rose by 10.1% to €19.7m.

The company's board of directors plan to propose that the gross dividend be raised from €0.53 a share to €0.58 a share.