Dutch bear profit rises 26 percent
Dutch brewing company Heineken NV reported a 26 percent rise in first-half profit Wednesday, with strong sales in the Americas and a surge in beer drinking in Europe during the soccer World Cup. It also raised its earnings growth foreecast for the full year.
Net profit came to 433 million euros ($557 million) in the January-June period from 345 million euros a year ago. Sales rose 11.6 percent to 5.74 billion euros ($7.38 billion) from 5.14 billion euros.
Heineken said the sales increase reflected a 4.7 percent rise in volume, 1.6 percent from higher prices, 3.3 percent from new acquisitions and 2.0 percent from currency effects.
The company reported noteworthy sales increases in nearly all corners of the globe, including Russia and Poland; Chile and Argentina, South Africa and several Central African nations "due to improving political and economic conditions," and in China, Taiwan, Indonesia and Australia.
Exceptions were in World Cup winner Italy, which suffered from an economic decline, and war-torn Lebanon.
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