Canada: Sleeman Breweries Ltd.'s second-quarter profit increased 88 % as demand grew for its core beer brands, the company said on Thursday, August 5. Guelph, Ontario-based Sleeman said it earned C$3.8 million ($2.87 million), or 23 Canadian cents per share, for the quarter ended June 26, up from C$2 million, or 13 Canadian cents per share, in the same period last year.

Stronger sales of its premium brands like Honey Brown Lager along with the launch of Amber Ale in Sleeman's western Canadian markets helped boost net revenues to C$58.7 million from C$49.9 million.

The company said it expects to exceed its upper target of 15 percent growth in earnings per share for the year.

06 August, 2004