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Heineken half-year profit misses on higher costs

Heineken half-year profit misses on higher costs
FILE PHOTO: Heineken beers are seen on a production line at the Heineken brewery in Jacarei, Brazil June 12, 2018. REUTERS/Paulo Whitaker   -   Copyright  Paulo Whitaker(Reuters)
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BRUSSELS (Reuters) – Heineken NV <HEIN.AS>, the world’s second-largest brewer, missed estimates for first-half profit on Monday, as rising input costs offset higher beer sales.

The Dutch maker of Heineken, Europe’s top-selling lager, maintained its full-year forecast that operating profit before one-offs would increase by a mid-single-digit percentage.

For the first half of the year, operating profit grew by just 0.2% on a like-for-like basis to 1.78 billion euros (£1.6 billion), missing analysts’ estimate of 1.92 billion euros, according to IBES data from Refinitiv.

(Reporting by Philip Blenkinsop; Editing by Shounak Dasgupta)

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