Tuesday 24 September 2019

Heineken: cheers all round as innovations pay off

Heineken, the world’s second-largest brewer, reported higher earnings on increased sales in the first half of 2017 as investment in innovations kicked in and its premium brands accounted for a larger share of total revenues.

Amsterdam-based Heineken said on Monday sales volume was 2.6% higher around the world, while its top brand, Heineken, booked a 3.9% gain in the first half.

‘We booked strong results with all four of our sales regions contributing to autonomous sales growth, turnover and operating profit,’ said Heineken CEO Jean-François van Boxmeer.

Turnover was 5.7% higher  at €10.5bn, while gross operating profit was €1.8bn, a 5.9% increase over the year-earlier period. Net profit came in at €871m, a 48.6% gain. In the first half of 2016, Heineken’s net profit halved due to write-offs in Congo.

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