Heineken profits fizz in emerging markets

0 Comments | AFP, September, 2006

AMSTERDAM (AFP) — Dutch brewing giant Heineken has reported a 25.5-percent net profit gain in the first six months of the year but warned that the final six months would pose tougher challenges. The group, citing strong performances in Africa, central and estern Europe and the Americas, said net profit leapt to 433 million euros (555 million dollars) in the first six months of the year on an 11-percent increase in sales to 5.7 billion euros.

Excluding exceptional items, such as a gain of 28 million euros booked in the first half, the net profit figure rose by 13.7 percent to 410 million euros compared with the first six months of 2005. That result was just below market expectations of a range of 420 to 435 million euros. Global sales of the Heineken premium brand rose 12.7...