The Netherlands’ beer maker, Grolsch, has posted a net profit of EUR 12.7 million for the first six months of the current year 6.7% up versus the first half of 2002. Operating profit rose by 4.5% to EUR 17 million. The company registered a total turnover of EUR 144.4 million, a 4.4% rise. Domestic beer sales fell but sales outside the Netherlands increased, Grolsch said. The results were ahead of analysts' forecasts, which predicted a net profit in the region of EUR 11.7 million.

Grolsch is expecting to post an increase in net profit for the full 2003 fiscal year versus 2002 when the company registered a net profit of EUR 30.1m. The company said full-year operating profit for 2003 would be on a par with 2002, at around EUR 42.6 million.

04 September, 2003