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Drinkers give Heineken profits of €577m
THE HAGUE, NETHERLANDS: Dutch brewer Heineken reported an almost 10% hike in third-quarter net profits to €577m, backed by increased appetite for its beers worldwide other than in western Europe.
Sales in Europe were undermined by the effects of austerity measures on consumers' pockets, the group implied in its statement.
Sales reached €4.97bn euros, up 7.1% from the figure 12 months ago, and in line with the €4.96bn forecast by analysts in a Dow Jones Newswires poll.
Demand for the firm's beer rose by 4.8% in the Asia Pacific region.
In America, group beer volume grew by 4.4% while in Africa and the Middle East, demand rose 3.5%.
In Western Europe however, beer volume declined 2.1%, mainly because of a double-digit plunge in Portugal "due to the challenging economic environment", Heineken said.
"The effect of cautious consumer spending in the on-premise channel contributed to a low-single digit decline in the UK, Netherlands and Spain," the brewing company added.
One of the world's top five brewers, Heineken was founded in the 19th century and produces and sells more than 200 brands of beer and cider including Heineken, Amstel beer and Strongbow.
Source: AFP via I-Net Bridge.
Source: I-Net Bridge
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