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.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
TikTok tells advertisers: ‘We are not backing down’
EV automakers get reprieve in US tax credit rules
Nomura, Mizuho face losses on All Blue fund’s failed trades
Stablecoin Tether steps up monitoring in bid to combat illicit finance
HSBC asked by US$890 billion investor group to set energy goal
BHP’s biggest rivals sit on the sidelines of Anglo M&A drama