Cost savings help Heineken boost profits

first_img Share whatsapp whatsapp KCS-content Show Comments ▼ by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailNoteabley25 Funny Notes Written By StrangersNoteableyBetterBe20 Stunning Female AthletesBetterBeautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comAtlantic MirrorA Kilimanjaro Discovery Has Proved This About The BibleAtlantic MirrorTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastElite HeraldKate Middleton Dropped An Unexpected Baby BombshellElite HeraldTrading BlvdThis Picture of Prince Harry & Father at The Same Age Will Shock YouTrading BlvdTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farmcenter_img Cost savings help Heineken boost profits Wednesday 25 August 2010 8:08 pm Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofTortilla Mango Cups: Recipes Worth CookingFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family ProofCheese Crostini: Delicious Recipes Worth CookingFamily Proof HEINEKEN, the world’s third-largest brewer, reported a higher than expected rise in first-half net profit yesterday after cost savings helped offset lower beer sales in Europe and the United States.The Dutch-based brewer, whose chief brands are Heineken and Amstel, Europe’s number one and three beers, said group beer volumes fell 2.3 per cent on a like-for-like basis.But costs savings, lower raw material and interest costs and its joint ventures led to a 17 per cent rise in net earnings.The company said it remained cautious about beer consumption in Europe and the United States due to continued weak consumer spending and planned austerity measures, but expected volumes to grow in Latin America, Africa and Asia.Heineken’s first-half results included two months from the beer business of Mexico’s Femsa, bought to boost exposure to faster-growing emerging markets.Just over half of Heineken’s revenue last year came from western Europe. Heineken said the integration of FEMSA Cerveza was on track, with synergies due in the second half. For the full-year, Heineken forecast the percentage growth of net profit to be at least in low double digits with further cost savings and price hikes continuing to have some impact.Heineken’s net profit before one-offs increased to €621m (£508m). Analysts had on average expected a net profit of €595m. Tags: NULLlast_img