Wednesday, August 21, 2013

Heineken sales hit by cold weather - The Drinks Business

21st August, 2013 by Andy Young

Heineken beer bottleThe brewer, which owns brands including Foster?s and Newcastle Brown Ale, saw beer sales fall by nearly 10% in the UK.

Operating profits in western Europe were down 9% on a like-for-like-basis though better performances in markets such as Asia and central and eastern Europe, helped to steady profits across the wider group.

In a statement the brewer said: ?Against a backdrop of unseasonably poor weather and continued low consumer confidence, beer volume in the UK declined in the high-single digits, with cider volume declining in the mid-single digits.?

Revenues in western Europe dropped 5% on a like-for-like basis to 3.6 billion euros (?3.1 billion) on beer volumes down 8%. Operating profits in the region fell by 9% to 362 million euros (?309 million), compared to the same period in 2012.

Worldwide volumes declined by 3%, with like-for-like revenues down 1%. Net profit before one-off items was 679 million euros (?580 million), flat on a like-for-like basis as revenue per hectolitre increased 2%.

Chief executive Jean-Francois van Boxmeer added that ongoing difficult economic conditions were still hitting the company, in spite of the recent heatwave.

He said: ?Although the volume trends have improved in July with the warm summer weather in Europe, economic conditions in several of our core markets continue to constrain consumer spending.?

This article was published on Wednesday, August 21st, 2013 at 12:07 pm. You can follow any responses to this article through the RSS 2.0 feed. You can skip to the end and leave a response.

Source: http://www.thedrinksbusiness.com/2013/08/heineken-sales-hit-by-cold-weather/

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