‘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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