Heineken NV pointed to signs of weakness in consumer demand after beer sales missed estimates amid growing inflationary pressures.
The world’s second-largest brewer said beer volumes rose 8.9% on an organic basis in the third quarter, below the 11.8% average analyst estimate. Rising costs dented margins and higher prices discouraged some customers from drinking more. The stock fell as much as 10% in Amsterdam trading, the most since 2003.
