Heineken predicts strong growth

Source: Food and Drink Digital

Date :24/07/2007 15:06:43

Heineken announced yesterday that it has doubled its forecast for net profit growth, with strong sales in rising markets offsetting slow growth rates in Europe and the US.

Optimism over sales in Asia, Africa and Eastern Europe has prompted the Dutch brewer to raise its forecast for the full-year ending December 2007 to 20 to 25 percent, up from the 10 to 13 percent predicted range made in June last year.

According to Heineken, overall beer volume sales increased 9.3 percent in the first six months of 2007, from 53.3 to 58.2 million hectoliters.

The Asia Pacific region experienced the most rapid growth during this period, with an increase in beer volume sales of 30.9 percent.

Other strong markets were Africa, with sales growth of 16.5 percent, and Central and Eastern Europe, where sales volumes increased 11.9 percent.

Sales in Western Europe and the US experienced some growth in terms of consolidated volume, but at a much slower rate.

Last month, it purchased the Kruovice brewery in the Czech Republic, giving the brewer an eight percent market share in the country.

Heineken said it will post its financial results for the first half of 2007 on 29 August.

July 24 2007