Heineken NV, the world’s third-biggest brewer, reported beer shipments that rose more than analysts estimated, led by growth in Asia and the Americas.
Beer volume rose 7 per cent, the Amsterdam-based company said Wednesday in a statement, compared with the 2.4 per cent median estimate of 19 analysts surveyed by Bloomberg. The figure excludes the impact of acquisitions, disposals and currency swings. Profit fell to €265 million ($301 million) from €579 million as the company had a €379 million capital gain last year from the sale of a Mexican packaging unit.
Heineken also reiterated guidance that it anticipates stronger sales and profit in 2016 despite a slowdown in some emerging markets, where the company generates nearly two-thirds of its earnings. The maker of Tiger lager has forecast gains in Asia including in Vietnam, one of its three largest markets. But it’s not alone, as Denmark’s Carlsberg A/S is also pursuing growth in Vietnam and countries like India to offset persistent declines in Russia.
"This has been a good first quarter, supported by a strong Vietnamese and Chinese New Year period and the earlier timing of Easter," Chief Executive Officer Jean-Francois van Boxmeer said in the statement. "There was good volume growth in Americas and Europe."
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