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August, 25, 2016

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Heineken H1 profits rise due to sale of brewery in Dominican Republic

AMSTERDAM--Heineken NV says first half profits rose thanks to the sale of a brewery in the Dominican Republic, as higher costs ate into operating profits — but the Dutch brewer continued to grow sales and market share.

Heineken, which reports earnings twice a year, said net profit was 783 million euros (US$976 million), up from 605 million euros in the same period a year ago, assisted by the 131 million euros gain from the sale of the brewery. Sales rose 5 percent to 8.78 billion, which Heineken said was due to a mix of volume growth, higher selling prices and acquisitions.

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