‘Challenging conditions’ have an impact on Heineken Q3 profit
Brewing group Heineken saw net profit fall 15% in the third quarter of this year but turnover was up slightly.
Net profit fell to €483m, partly due to declining sales in eastern and central Europe, the company said. Disappointing economic growth also had an impact in other countries. In total, volume sales were down 2%.
Group turnover rose 1% to €5.7bn
‘Underlying trading conditions across Europe remain challenging, as evidenced by a weak consumer environment in central and eastern Europe in the quarter,’ chief executive Jean-François van Boxmeer said in a statement.
‘As a consequence, we are accelerating efforts to drive improved efficiencies, particularly in Europe, through restructuring and other cost related initiatives.’
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