Heineken bucks expectations with increase in Q1 beer volumes

Brussels

HEINEKEN NV, the world's second largest brewer, unexpectedly increased volumes in the first quarter due to solid beer sales in Asia and Europe, and repeated its forecast for margin expansion in 2017.

Analysts had been expecting volumes to decline following an extremely strong first three months of 2016 and a later timing of Easter this year. In fact, Heineken reported on Wednesday that they rose by 0.6 per cent on a like-for-like basis.