Summer sun boosts Heineken
The summer heatwave across Europe drove punters to watering holes, brewing giant Heineken revealed today.
A strong performance on the Continent helped the Dutch company, which also brews Amstel and Foster’s in Europe, beat analysts’ forecasts.
First-half revenues rose 3.8% to €10.5 billion (£9.4 billion), while operating profits flowed 5.9% higher to €1.8 billion.
Heineken attributed the strong performance to the timing of Easter and “good weather, particularly in Europe”. Operating profit leapt 16.1% in Europe, better than any other market.
“Europe delivered a good performance, momentum remained strong in Americas and Asia-Pacific, and results improved in Africa, the Middle East and Eastern Europe despite continued difficult market conditions,” chief executive Jean-François van Boxmeer said.
The company, which took over Punch Taverns for £403 million in December, offered to sell 33 UK pubs last month to get the green light from the regulator.
