Brewer Grolsch booked 18% rise in net profit last year, well above analysts’ expectations. Sales rose 2% to €318m year-on-year. Sales in the Netherlands were down marginally – Grolsch did not get involved in the supermarket price wars.

Sales in France, Australia, New Zealand and Russia were particularly good, the company said. In total, Grolsch sold 3.2 million hectolitres of beer last year, compared with 3.3 million hectolitres in 2005.