Wednesday, August 20, 2014 3:42 pm
Beer drinking during the World Cup football extravaganza raised sales volumes for Dutch brewer Heineken in the first half of the year but net profit fell, the company reported on Wednesday.
Net profit slipped to 631 million euros ($839 million) from 639 million euros at the same time last year, although it rose by 14.0 percent before exceptional items and amortisation, allowing for the falling value of some assets.
The company, which owns the Heineken, Desperados, Affligem and Sol brands, said overall sales fell by 1.4 percent to 10.19 billion euros.
But sales rose by 4.6 percent if exchange rate effects, exceptional items and amortisation were excluded.
The volume of Heineken beers consumed rose by 4.5 percent owing to favourable weather, and to drinking during the World Cup, boosted by marketing and promotional campaigns.
Heineken said it had gained market share in some important markets, citing Brazil, Nigeria, Vietnam, France and the Netherlands.
However, overall, it expected consumption of its brands to slow down during the rest of the year owing to a cloudy outlook for the economy.
The group produces and sells more than 200 brands of beer and cider and employs nearly 70,000 people around the world.