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Developing markets and cost cuts boost Heineken profits


Developing markets and cost cuts boost Heineken profits


Heineken has reported higher than expected first-half earnings.

The Dutch brewer – which is the world’s third largest – enjoyed a surge in profit in developing economies and also benefitted from tighter control of costs.

Operating profit was up five percent at 1.45 billion euros

In emerging markets operating profit grew by seven percent on a like-for-like basis. Emerging markets now account for half of the group’s earnings.

Heineken has a bigger share of the sluggish western European market than its rivals.

To counter that drag it has boosted its presence in emerging markets with its 2010 purchase of the brewing business of Mexico’s Femsa and by taking full control last year of Asia Pacific Breweries.

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