E-Malt.com News article: Belgium: Duvel Moortgat confident of upholding prospects for 2011 despite lower sales results in Q3 and higher raw materials prices

Belgian specialty beer maker Duvel Moortgat said on November, 17 the growth in turnover realised in the first six months of this year is continued in the third quarter. Globally, all beer brands are progressing, despite the bad weather conditions in the summer.

The negative exchange rate results as at 30/06/10, resulting from the conversion of receivables, debts and credits in foreign currencies, decrease in the third quarter due to the stronger dollar, the company said.

Duvel Moortgat said it realised fine results in the first six months of 2011. The company is therefore confident that it will be able to uphold the previously set out prospects, despite the lower sales results in the summer and increasing prices of raw materials.

The Duvel Moortgat group, founded in 1871, is an independent producer of authentic speciality beers and premium brands. Around the world, the group is considered to be the leading producer of blond, bottle conditioned, high fermentation beers, a dominant position owed largely to the success of its best-selling product Duvel.

A pioneer in fermentation and secondary fermentation techniques, Duvel Moortgat has not only grown into being the fourth largest brewery group in Belgium, but is above all the absolute market leader in terms of operating rate of return.

Since early June 1999, Duvel Moortgat N.V. has been quoted on Eurolist by Euronext Brussels.


18 November, 2011