Heineken cheers profit jump, but outlook ‘below 2019’ | Malay Mail

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THE HAGUE, Oct 27 — Heineken today posted a €2.6 billion (RM12.5 billion) jump in year-on-year net profit three-quarters into 2021, but reported a major slump in beer sales in Asia markets because of Covid-19 restrictions. Net profit for the first nine months was up to €3.082 billion as...

THE HAGUE, Oct 27 — Heineken today posted a €2.6 billion jump in year-on-year net profit three-quarters into 2021, but reported a major slump in beer sales in Asia markets because of Covid-19 restrictions.

But the profits were boosted by an exceptional gain of €1.3 billion from a remeasurement to fair value of a previously held equity interest in United Breweries in India — and full year expectations remained below that of 2019. Overall beer volumes grew by four per cent since the start of the year, but the Amsterdam-based brewer saw a 37.4 per cent dip in key markets such as Cambodia, Malaysia, Indonesia and Vietnam in the third quarter.

 

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