Dutch-based brewer Heineken posted strong sales growth worldwide in the first half of the year, with Europe and the Americas driving overall volume gains.
Sales were up 5.7 percent organically for the six months to the end of June, reaching €10.48 billion (US$12.4bn) while net profit grew 49 percent to €871 million ($1.03bn) compared with the first half of 2016, during which there was an asset impairment of €233 million in the Democratic Republic of Congo.
Heineken brand volume grew 3.9 percent worldwide organically with higher growth in Europe of 5.9 percent. In Heineken’s other brands volume was up by double digits for Affligem, Tiger, Krušovice, Tecate and Red Stripe, and up high single digit for Desperados.
Sol Premium volume was up in low single digits. Amstel volume declined low single digits due to weaker volume in Nigeria and Greece, but the brand grew strongly in markets such as Brazil.
Heineken’s chief executive Jean-François van Boxmeer, commented: “We delivered strong results in the first half year, with all four regions contributing positively to organic growth in volume, revenue and operating profit. Europe delivered a good performance, momentum remained strong in Americas and Asia Pacific, and results improved in Africa Middle East & Eastern Europe despite continued difficult market conditions.
“A well-balanced global footprint, sustained investment in our beer and cider brands, market leading innovations and a focus on premiumisation continue to differentiate our strategy and underpin our progress.
“During the period we also completed the acquisitions of Brasil Kirin and Lagunitas. Whilst economic conditions are likely to remain volatile, our expectations for the full year are unchanged.”