Heineken: good weather in Europe prompts higher volumes
(CercleFinance.com) - Heineken, the world's second largest brewer, sold more beer in the third quarter than last year, benefiting from good weather in Europe and strong growth in Brazil, Mexico, Vietnam and South Africa.
The brewer saw consolidated beer volume grow by 4.6% organically in the past quarter, led by growth in the Americas and Asia Pacific.
Overall, beer volume sales grew by 9.2%, with the Heineken brand continuing to outperform the market, driven by Brazil, South Africa, France and Russia, Heineken said.
Analysts said that while Heineken's growth in the third quarter beat the official consensus, numbers were a slight miss compared to more recent polls.
At the bottom line, reported net profit over the first nine months reached 1.6 billion euros, from 1.5 billion euros for the same period of 2017, and the group said its full-year 2018 expectations remain unchanged.
Heineken shares are currently down 1.4% at 77.3 euros, underperforming a 0.8% rise in the STOXX European food and beverage index.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The brewer saw consolidated beer volume grow by 4.6% organically in the past quarter, led by growth in the Americas and Asia Pacific.
Overall, beer volume sales grew by 9.2%, with the Heineken brand continuing to outperform the market, driven by Brazil, South Africa, France and Russia, Heineken said.
Analysts said that while Heineken's growth in the third quarter beat the official consensus, numbers were a slight miss compared to more recent polls.
At the bottom line, reported net profit over the first nine months reached 1.6 billion euros, from 1.5 billion euros for the same period of 2017, and the group said its full-year 2018 expectations remain unchanged.
Heineken shares are currently down 1.4% at 77.3 euros, underperforming a 0.8% rise in the STOXX European food and beverage index.
Copyright (c) 2018 CercleFinance.com. All rights reserved.