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. Last Updated: 07/27/2016

Guinness Gains Profit

n LONDON ( -- British drinks group Guinness announced on Tuesday a 4 percent increase in pre-tax profits of ?372 million ($597.8 million) for the first six months of 1997 after a softer than expected hit from a strong pound.

The company meanwhile declined to give details of any discussions with French luxury group LVMH, which opposes the planned merger of Guinness and Grand Metropolitan.

Most stockbrokers estimates predicted profits for Guinness of ?360 million and a negative impact of at least ?20 million from the strength of sterling on foreign exchange markets in the first half of the year.