Heineken Sees Moderation of Growth After Profit Jumps
Heineken NV (HEIA), the world’s third-biggest brewer, expects growth to moderate in the remainder of the year after posting profit in the first half that topped analysts’ estimates.
Earnings before interest and taxation, excluding some items, were 1.45 billion euros ($1.93 billion), compared with 1.33 billion euros a year earlier, Amsterdam-based Heineken said today in a statement. The median of 13 analyst estimates compiled by Bloomberg was for a figure of 1.32 billion euros.
Growth in revenue per hectoliter of beer sold and profit will moderate in the second half from the first six months as some countries lag. Heineken still anticipates stronger sales in 2014. The brewer is looking to expand sales of pricier beers such as the eponymous flagship Heineken brand. It’s also turning to developing markets for growth, buying control of its joint venture Asia Pacific Breweries in 2012.
“The economic outlook remains mixed,” Chief Executive Officer Jean-Francois van Boxmeer said in the statement. The company is confident its plans will lead to “healthy top and bottom line growth in 2014 and beyond.”
To contact the reporter on this story: Celeste Perri in Amsterdam at email@example.com