Estimated read time: Less than a minute
This archived news story is available only for your personal, non-commercial use. Information in the story may be outdated or superseded by additional information. Reading or replaying the story in its archived form does not constitute a republication of the story.
AMSTERDAM (AP) — Heineken NV, the Amsterdam-based brewer, has reported first half earnings that show a small drop in both revenues and profits — but says its underlying performance was good.
Net profit was 631 million euros ($840 million), from 639 million euros in the same period a year ago. Sales were down 1.4 percent to 10.2 billion euros, which Heineken, the largest brewer by sales within Europe, said was partly due to the strong euro. Stripping out currency and acquisition effects, Heineken said beer prices were up 1.5 percent, and volumes increased 3.9 percent.
Chief Executive Jean-Francois van Boxmeer said Wednesday the company's operations grew on a like-for-like basis in almost all regions in the first half but warned that growth in underlying profit and revenues would "moderate" in the second half.
Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.