Year-on-year net profits in the first half of 2016 fell to 586 million euros ($654 million) from 1.14 billion euros the previous year, Heineken said in a statement. Dutch brewing giant Heineken had little to cheer Monday as it unveiled a 48.8 drop in half year net profits, warning of "a challenging economic backdrop". But the world's third largest brewer reported an increase in volume and sales, with revenue of 10.1 billion euros, up from 9.8 billion euros in the first six months of 2015, a 4.7 percent rise when adjusted. But it stressed the 2015 results had been inflated by "the exceptional gain of 379 million euros" from the 1.2 billion euro sale of its Mexican packaging arm Empaque in February 2015. Cider sales were also looking rosy, Heineken said, with sales of such brands as Strongbow doubling in Europe, while the apple-based beverage posted double digit growth in Canada and Mexico.

Source: Thanhnien News August 01, 2016 07:52 UTC