Grolsch increases its profit

The Dutch brewer said that operating profit for the six months to the end of June rose to EUR11m compared to EUR10.2m in the corresponding period a year earlier. The lift came on the back of rising sales, which were up 8% to EUR164m from EUR152m.

The company credited the worldwide introduction of the
returnable 33cl bottle in the half, and strong exports to the US for the
increases.The successful cooperation with Anheuser-Busch in the
US led to a marked increase in sales, with volume growth of above 50%. Volume
growth overall for the international operations was 8%.Looking forward, Grolsch said it expects full-year net
profit growth to hit around 10%, but warned that it "currently faces
drastic increases in raw materials prices". The cost of malt has doubled
since last year, the brewer noted.In April, Grolsch was stung by a EUR31.58m fine by the
European Commission for its part in a cartel between brewers in Holland.
Grolsch, who is appealing the fine, said today that it provisionally advanced
the amount of the fine in July.