Breaking News
FONT-SIZE Plus   Neg
Share SHARE

Heineken Q1 Profit Rises - Update

Dutch brewing group Heineken reported Wednesday a higher first-quarter profit, as revenues increased about 7 percent with growth across all regions.

The group consists of Heineken Holding N.V., Heineken N.V. (HINKY.PK), its subsidiaries and interests in joint venture and associates.

The company, with global brands such as Desperados, Strongbow Gold and Amstel, said total consolidated volume in the quarter improved 3.5 percent. On an organic basis, beer volume and consolidated beer volume grew 4.7 percent, with strong growth in all regions, except Western Europe.

In a trading update, the company said its reported net profit for the first quarter was 175 million euros, higher than 151 million euros reported last year. Net result for the recent quarter included 20 million euros revaluation gain following an increase in Heineken's shareholding in Brasserie Nationale d'Haiti S.A. in January 2012.

EBIT, a key earnings measure, declined slightly on an organic basis, which included a 23 million euros impairment charge related to an investment by the Heineken-APB (China) Pte. Ltd joint venture in a Chinese brewery held for sale, the company said.

Revenues for the quarter, on a reported and organic basis, grew 6.8 percent to 3.83 billion euros. Foreign currency movements contributed to a negative translational effect 18 million euros.

Revenue per hectolitre was up 3.3 percent, helped by pricing initiatives and improved sales mix.

The company also reaffirmed its full year 2012 outlook and said it still expects input costs to escalate further in 2012. Earlier, the company forecast around 6 percent increase in input costs per hectolitre in 2012, but hoped to mitigate this impact through revenue growth initiatives and efficiency programs. In 2011, the increase was 2.5 percent per hectolitre.

In Amsterdam, the shares are currently trading at 37.13 euros, up 3.76 percent, on a volume of 115 thousand shares.

Register
To receive FREE breaking news email alerts for Heineken NV and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Social networking giant Facebook, Inc. said Wednesday after the markets closed that its second quarter profit more than doubled from last year, as revenue surged 61% amid strong growth in mobile advertising. The company's quarterly earnings per share, excluding items, also came in above analysts' expectations as did its quarterly revenue. With traders reacting to the latest batch of earnings news, stocks fluctuated over the course of the trading day on Wednesday before eventually ending the session mixed. The Dow ended the day in the red, but the broader Nasdaq and S&P 500 managed to close in positive territory. House Republicans revealed a series of recommendations to address the crisis along the U.S.-Mexico border on Wednesday, although party differences may prevent a final bill from being passed before the August recess.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.