S&N profits above expectations but no news on pubs Scottish and Newcastle, which claims to be Europe's most profitable brewer announced a 3.5% rise in full year profits today of £442.3m (US$677.1m), up from £428m a year before and compared to forecasts of £431-445m.   But despite being at the top of analysts' expectations, its shares dipped due to the disappointment it made no mention of a pubs sell-off.