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Dow Jones Newswires

Oct. 23, 2019, 2:20 a.m. EDT

Heineken nine-month profit rises 4.4%

By Adria Calatayud

Heineken's non-alcoholic beer.

Heineken NV said Wednesday that net profit for the first nine months of 2019 rose 4.4%, and guided for organic operating growth of around 4% for the full year.

The Amsterdam-based brewer (AMS:NL:HEIA)  , which also owns the Sol, Birra Moretti and Tiger beer brands, made a net profit of 1.67 billion euros ($1.86 billion) for the nine months to Sept. 30 compared with EUR1.60 billion in the year-earlier period.

Consolidated beer volume rose 2.3% on an organic basis in the third quarter, as double-digit growth in Asia Pacific offset declining volumes in the Americas, Heineken said. Quarterly volumes of Heineken branded beer were up 7.4%, the company said.

The world’s second-largest brewer had previously guided for mid-single-digit organic growth in operating profit in 2019.

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