Print Edition - 2017-04-20  |  Money Digest

Heineken Q1 beer sales flat


Apr 20, 2017-

Dutch brewing giant Heineken reported flat beer sales for the first quarter of 2017, but was cheered by a 10.6-percent rise in profits despite a late Easter this year. Global beer sales only grew 0.6 percent compared to the same period in 2016, the Amsterdam-based company said in a statement. Profits were up to $314 million, compared with 265 million in the first quarter last year. “Performance in the first quarter was in line with expectations, delivering volume growth against strong comparatives last year,” chairman Jean-Francois van Boxmeer said in a statement. While beer sales remained strong in Asia, up some 5.4 percent, “in Africa, Middle East and eastern Europe market conditions remain challenging, adversely impacting volume,” the company said. Heineken produces and sells more than 250 brands including Desperados tequila-flavoured beer, Sol and Strongbow cider. It employs about 73,500 people around the world.

Published: 20-04-2017 10:37

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