Heineken NV on Monday missed estimates for first-half profits, as higher packagi...
) on Monday missed estimates for first-half profits, as higher packaging costs offset increased beer sales, but the world’s second-largest brewer stuck with its full-year profit growth forecast.
The company said it would benefit this year from increased sales, higher prices and a consumer shift to more expensive beers. But the company also warned input and logistics costs would rise by a mid-single-digit percentage over the year. Heineken’s emerging market operations had also been hit by having to pay hard currency for raw and packaging material with, for example, a weaker Brazilian real.
For the first half, beer sales volumes rose in all regions, except Europe, where it was hit by poor weather and an unfavorable comparison to last year when the soccer World Cup boosted sales.
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