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Profits up at S & N
Brewer, Scottish & Newcastle, has reported an 8.2 per cent rise in pretax profits for the half-year to 30 June.
On turnover up 4.2 per cent over the same period last year to £2,382m, operating profit rose 7.4 per cent to £202m and profit before tax increased to £158m.
The company reported that its four key brands – Foster’s, Kronenbourg 1664, John Smith’s and Strongbow – all grew strongly, with total volumes up 9 per cent.
Commenting on the results, S & N chief executive, Tony Froggatt, said: "The good performance in the first half of 2004 gives us confidence that we will meet our financial and commercial objectives for the full year".
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