Africa sales raise spirits at Heineken
Heineken outperformed expectations in the first quarter as a revival in drinking in Asia and Africa helped offset the impact of European lockdowns.
The world’s second largest brewer sold 5.4 per cent more beer in Asia and 9.9 per cent more in Africa, the Middle East and eastern Europe, making up for a 9.7 per cent decline in Europe.
Net profit for the company, which brews Tiger, Amstel and Birra Moretti, was €168 million (£145 million) — up from €94 million last year.
Beer volume in the three months was in line with last year and 2.1 per cent below the same period in 2019, despite analysts expecting a 5.1 per cent decline.
Growth in Nigeria and South Africa was strong, while Vietnam pushed beer..