Amsterdam-based brewer Heineken sold more beer around the world in the first quarter of 2018. Sales in Europe were lower, even in the Netherlands, but demand for the beer increased elsewhere, particularly in Asia, the brewing giant said in a trading update on Wednesday.
Total first-quarter sales volume was 4.3% higher than the year-earlier period. Heineken ascribed this to an early Easter holiday and less-than-robust sales in the 2017 first quarter. Growth was slightly higher than the 4.1% increase analysts forecast for the company.
Heineken’s biggest (11.3%) sales increase was in Asia, followed by 6.1% in the Middle East and 6.8% in North and South America.
Heineken booked net profit of €260m in the first quarter, lower than the €293m in the year-earlier period due in part to the effect of the low dollar exchange rate against the euro. Heineken expects to book a charge of €115m for exchange rate fluctuations for full-year 2018.