Heineken First-Half Net Profit Up 49% at EUR871 Million

By Nick Kostov Features Dow Jones Newswires

Heineken NV (HEIA.AE), the world's second-largest brewer by sales, said Monday its profit rose in the first half of the year, fueled by a rise in beer volumes thanks to strong sales in Europe and Asia.

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Net profit was EUR871 million ($1.02 billion), up 49% from the comparable period in 2016 when the company booked an impairment charge on its business in the Democratic Republic of Congo. Revenue rose 5.7% on an organic basis to EUR10.48 billion.

Consolidated beer volumes rose 2.6% organically in the period, beating analyst expectations of a 1.7% rise.

"Europe delivered a good performance, momentum remained strong in Americas and Asia Pacific, and results improved in Africa Middle East & Eastern Europe despite continued difficult market conditions," Heineken Chief Executive Jean-Francois van Boxmeer said in a statement.

Mr. van Boxmeer has expanded the company's presence in fast-growing markets in Latin America and Asia in recent years and strengthened activities in Africa.

The company said its full-year expectations, including further organic revenue and profit growth, remain unchanged.

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Write to Nick Kostov at nick.kostov@wsj.com

(END) Dow Jones Newswires

July 31, 2017 01:59 ET (05:59 GMT)