Amsterdam beer brewer Heineken sold more beer in the first half of 2019, the beer brand announced on Monday when the half-year results were published. In total, Heineken sold 3.1 percent more beer and saw its sales grow 5.6 percent to 11.5 billion euros.
The growth in beer sales came mainly from Asia, where Heineken sold 10.4 percent more. In Africa, the Middle East and Eastern Europe the volume increased by more than 7 percent.
Heineken had a harder time in the rest of Europe, where the beer company saw sales shrink by 1.5 percent. According to Heineken, this is mainly due to the disappointing weather. The beer brand also mentions the absence of a football World Cup as the cause of the volume decline in Europe.
Operating profit was slightly higher than a year ago and rose by 0.3 percent to 1.8 billion euros. Less than 1.1 billion euros was left under the line, a decrease of 1.2 percent. According to the company, net profit decreased, mainly due to high income taxes.
Heineken expects operating profit growth of “mid single digits” for the whole of 2019, or profit growth of between 3 and 7 percent. The beer manufacturer does emphasize that “major macroeconomic and political changes” are not taken into account in this expected operational profit growth.
The figures were not well received on the Amsterdam stock exchange. The Heineken share plummeted at the opening and was worth about 6 percent less. A share cost around 96.86 euros around 9.15.
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