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April 24, 2019, 2:46 a.m. EDT

Heineken profit up, but U.S. beer volumes fall

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By Anthony Shevlin

Heineken NV (HEIA.AE) said Wednesday that net profit in the first quarter rose as beer volume grew across all regions.

The world's second-largest brewer by sales said net income was 299 million euros ($335.9 million), compared with EUR260 million the prior year.

The company said its consolidated beer volume rose 4.3% on an organic basis compared with the year previous.

An analyst consensus provided by the company saw organic growth of 3.3%.

Beer volume in the U.S. posted a mid-single digit decline although beer volume in the Americas region grew 3.2% organically.

The company confirmed its outlook for 2019 and expects operating profit to grow by a mid-single digit on an organic basis.

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