Beer cheer for Heineken

British beer lovers have helped Dutch brewer Heineken to increase its share of a declining market and report better than expected earnings. Investors saw the beer-maker’s shares rise to an 11-month high, as they reported a 20 per cent jump in profits for the first half of the year.

The firm said price increases and cost-savings within the company had helped offset the slow economic environment. Heineken’s revenue grew by 6.2 per cent in the first six months of 2009, while lower energy, water and marketing costs as well as wage cuts also helped the bottom line.
The company’s acquisition of Scottish and Newcastle also boosted sales, which rose 11 per cent overall.

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