Heineken: maintains 2017 guidance after solid first half.
(CercleFinance.com) - Heineken, the world's second largest brewer, maintained its FY profit guidance on Monday after organic revenue rose 5.
7% in the first half of the year.
The group, which brews Amstel, Desperados and Sol beers, said it still expects margin expansion in 2017 in line with the medium-term margin guidance of a year-on-year improvement in operating profit margin of around 40 basis points.
Consolidated beer volumes remained stable at 91 million hectoliters in the first six months, with volume recording organic growth of 3.4%.
Consolidated revenue was up just 3.8% at 10.47 billion euros, with organic growth reaching 5.7%.
In comparison, the consensus was expecting growth of just 4.1%.
The group's operating profit margin rose to 17.2% in the first half, compared to 16.9% a year ago, up 34 basis points.
In its press release, the Amsterdam-based company said that it expected economic conditions to remain "volatile."
Copyright (c) 2017 CercleFinance.com. All rights reserved.
7% in the first half of the year.
The group, which brews Amstel, Desperados and Sol beers, said it still expects margin expansion in 2017 in line with the medium-term margin guidance of a year-on-year improvement in operating profit margin of around 40 basis points.
Consolidated beer volumes remained stable at 91 million hectoliters in the first six months, with volume recording organic growth of 3.4%.
Consolidated revenue was up just 3.8% at 10.47 billion euros, with organic growth reaching 5.7%.
In comparison, the consensus was expecting growth of just 4.1%.
The group's operating profit margin rose to 17.2% in the first half, compared to 16.9% a year ago, up 34 basis points.
In its press release, the Amsterdam-based company said that it expected economic conditions to remain "volatile."
Copyright (c) 2017 CercleFinance.com. All rights reserved.