Heineken beer sales soar outside of Europe and US
Dutch brewing giant Heineken toasted an increase in third-quarter sales, with growth in Asia and the Americas offsetting a slump in Europe.
The world's second-largest brewer said that profit for the nine months from January to September rose 19.9% from the same time last year to EU€1.49 billion.
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The brewer also said that consolidated beer volume for the nine months increased 6.8% from last year to 161.3 million hl.
Heineken revealed that sales were up 3.4% and were driven by Brazil, South Africa, Russia and Mexico.
Sales rose in all regions except Europe, where poor summer weather reduced demand, and in the US.
“Europe had to face tough comparatives, partly due to less favourable weather in some key markets," CEO Jean-Francois van Boxmeer explained.
But overall "our full year expectations remain unchanged", he added.
The company also announced its acquisition of Punch Taverns across Britain, in a deal with Patron Capital.
The two companies agreed last year to buy more than 3,000 pubs for GBP£402 million.
Heineken has retained its full-year expectations that revenue and profit will grow.
The company has an extensive portfolio of beer brands including as Heineken, Desperado, Tiger and Sol.