Heineken brews 42% rise in H1 net
Source: Agencies |
August 26, 2010, Thursday
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Print Edition
Print Edition
DUTCH brewer Heineken NV said yesterday its first-half net profit rose 42 percent on a mix of factors including cost cutting, positive currency effects and one-time gains.
Net profit was 695 million euros (US$881 million), up from 489 million euros a year earlier. This year's figures include a net 121 million euros in exceptional gains, due to the sale of Heineken's 68.5 percent stake in an Indonesian subsidiary to Singapore-based Asia Pacific Breweries for 157 million euros.
Heineken's revenue rose 5.2 percent to 7.52 billion euros, mostly due to its US$7.8 billion acquisition in April of Mexico's Femsa.
"Trading conditions remained challenging in Europe and the USA, but we realized strong ... growth in Africa and Asia," the firm said.
Net profit was 695 million euros (US$881 million), up from 489 million euros a year earlier. This year's figures include a net 121 million euros in exceptional gains, due to the sale of Heineken's 68.5 percent stake in an Indonesian subsidiary to Singapore-based Asia Pacific Breweries for 157 million euros.
Heineken's revenue rose 5.2 percent to 7.52 billion euros, mostly due to its US$7.8 billion acquisition in April of Mexico's Femsa.
"Trading conditions remained challenging in Europe and the USA, but we realized strong ... growth in Africa and Asia," the firm said.
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