Grolsch books profit rise of 34.3%

Dutch beer brewer Grolsch on Monday announced net profits for the first ten months of 2007 of €18m, a rise of 34.3% on the same period in 2006.

Turnover in the period was €278m against €262m in 2006. Operating profit rose from €21m to €26m, while earnings per share rose from €0.80 to €1.08.
The figures were published to coincide with a formal bid for the company by British-South African brewer SABMiller.
SABMiller is offering €48.25 a share for Grolsch, one of the oldest Dutch companies and famous for its resealable bottles. The bid, worth €816m, is backed by both management and the supervisory board.
Grolsch will hold an extraordinary shareholder meeting on January 28 to discuss the bid.

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