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BELGIUM: Duvel Moortgat upbeat on full-year sales

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Duvel Moortgat has said that it expects to report another rise in sales in 2011, boosted by its core brands and the acquisition of De Koninck Brewery.

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Duvel did not publish figures for its performance in the first quarter of 2011. But, the Belgium-based brewer said that all of its beers performed well in the three months to the end of March, except for Bel Pils.

"The growth in turnover is also positively influenced by the incorporation of the De Koninck group turnover for the three-month-period," said Duvel yesterday (16 May).

The brewer forecast that sales and operating profits will increase in 2011. However, profits are under pressure due to the weak US dollar and higher debt following the De Koninck acquisition, it added. No figures were disclosed.

The group will publish its half-year results on 31 August.

In 2010, Duvel saw net sales rise by 21% to EUR137m (US$194.7m). Operating profits increased by 22% versus 2009, to EUR29.3m, while net profits rose by 18% to EUR42.2m.

To view Duvel's full-year statement for 2010, click here.


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