Heineken toasts 9.9% rise in annual earnings
Heineken has reported a 9.9% rise in annual earnings and underlying operating profit of 3.54bn euros (£3bn) last year, up from 3.38bn euros (£2.9bn) and said it sold 3% more beer by volume.
It said the Brexit-hit pound had in part led to a 1.15 bn euro hit (£976m), although Heineken’s turnover still rose by 1.4% to 20.8bn euros (£17.7bn).
The group said it expected further sales and profit growth in 2017, but is remaining cautious over “volatile” economic conditions and is bracing for a further currency impact of up to 75m euros (£64 million).
Heineken said beer sales by volume declined “slightly” in the UK last year, but premium sales saw double-digit growth.
New cider drinks were well-received in the UK, with double-digit sales growth in the final six months of 2016.
The group saw ongoing strong sales of Strongbow, with good demand for its Strongbow Dark Fruit and Strongbow Cloudy Apple, alongside Old Mout.
The rise in annual earnings was announced ahead of Heineken’s takeover of Punch Taverns. Read more here.
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