Heineken profit soars nearly 50% on warm European weather
World’s second-biggest brewer says all four regions had strong results, but Europe was the star performer, though it warns of volatility ahead
The Hague — Dutch brewing giant Heineken on Monday reported a 48.6% leap in first half profits, with beer sales boosted by warm weather in Europe and its new zero-alcohol brand. Profit rose to €871m in the first half of 2017, from €586 million in the year-earlier period, the company said. "We delivered strong results in the first half-year, with all four regions contributing positively to organic growth in volume, revenue and operating profit," CEO Jean-Francois van Boxmeer said. Europe in particular "delivered a good performance", he remarked in a statement, with the company noting the "particularly good weather" in the region. Total sales in the first six months of 2017 were up 3.8% to €10.47bn, compared with €10.09bn a year ago. "After a slower first quarter given Easter timing, the earlier Tet Vietnamese New Year and tough comparatives, all regions saw higher organic volume growth in the second quarter," the Amsterdam-based company said. New brand Heineken 0.0 was launched in th...
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