Belgian brewer Duvel Moortgat on Monday said its turnover for the first quarter “presents good internal growth”. All brands, with the exception of Bel Pils, are progressing. The growth in turnover is also positively influenced by the incorporation of the De Koninck group turnover for the three-month-period.

In the first quarter, a great number of efforts were made in all fields in order to reconnect to growth Brouwerij De Koninck in general and the “Bolleke Koninck” in particular, the company said.

The financial results in the first quarter are negatively influenced by the weak dollar (starting in the third quarter of 2010) and the increased burden of debt as a result of the acquisition of the De Koninck group, the specialty brewer said.

Duvel Moortgat said it is confident to record further growth in turnover and operational result in 2011.

Dividend

Subject to approval by the General Meeting, the net dividend of € 0.975 per share will be payable as of 20 June 2011 at the counters of Fortis Bank, Dexia Bank and Bank De Groof on presentation of coupon number 12. The coupons of the own shares held (97,747 shares) are destroyed.

About Duvel Moortgat

The Duvel Moortgat group, founded in 1871, is an independent producer of authentic specialty 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 third largest brewery group in Belgium, but is above all market leader in terms of operating rate of return.

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