Heineken reports sales, earnings jump

Heineken reports sales, earnings jump

PanARMENIAN.Net - Dutch brewer Heineken NV says both sales and earnings rose in the first quarter, due to a combination of growth and one-time gains.

According to The Associated Press, net profit was 25 percent higher at €175 million ($230 million), from €151 million in the same period a year ago, but included a €20 million gain on a stake in a Haitian company reappraised at a higher value. Sales rose 6.8 percent to €3.83 billion, 3.5 percent of that due to higher volumes and 3.3 percent due to higher prices.

The family-controlled company, which only issues a full earnings report twice annually, said Wednesday, April 18 it expects to benefit in 2012 from growth in Africa, Asia and Latin America, and from cost-cutting - notably employees - in developed markets.

The company is expecting raw material costs to rise 6 percent.

 Top stories
According to Gagik Beglaryan, the Chinese side put forward a number of proposals on the implementation of the railway construction project.
ContourGlobal expects the modernization to create 150 near-term jobs in addition to the 150 long-term technicians employed.
The President declared that we will cover only the population's expenses, meaning people who spend 250 kW of electricity per month.
The proposed additional financing will raise the total length of roads to 360 km, 73 km of which have already been rehabilitated.
Partner news