Better than expected half-year for Heineken
Heineken, the world's third largest brewer, on Wednesday posted a net half-year exceeded expectations, reducing costs which enabled it to compensate for declining beer sales.
The Dutch group, whose main brands are Heineken and Amstel, has made the first six months of the year net profit up 17% on a comparable basis and before special items to 621 million euros.
Twelve analysts surveyed by Reuters had forecast an average result of 595 million.
The group said growth forecasts of at least 10% of its net earnings over the whole year, indicating that volume trends in Latin America, Africa and Asia, as well as price increases , continue to have an impact on profitability.
The results presented Wednesday to two months include the contribution of the activities of FEMSA Mexican beer, bought by Heineken in order to increase its presence in emerging markets.
Last year, the Dutch made a little more than half its sales in Western Europe.
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