Heineken pleased with H1 figures

Brewing group Heineken booked net profit of €489m over the first half of 2009, an increase of 20% on the year-earlier period.

The amount of beer sold was down by 5.6% but the company was able to compensate by increasing prices and cost cutting measures.
The take over of British brewing group Scottish & Newcastle also boosted earnings.
CEP Jean-Francois van Boxmeer said in a statement the brewer had put in a strong performance.
‘The strength of our brand portfolio has enabled us to support our margins, achieving a stable top line performance despite lower volumes,’ he said.
‘The economic and trading conditions remain difficult, and there will be continued pressure on volumes in the second half of 2009. However, our focus on brand building, prioritised investment and rigorous cost reduction will continue to deliver value in the second half of the year.’

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