By Michael SusinHeineken lifted its profit growth target for the year after a key revenue metric rose in the first six months, beating expectations. The Dutch brewer now expects adjusted net profit organic growth to be more closely in line with inorganic growth, rather than lower. It expects adjusted operating profit to grow organically in the range of 4% to 8% compared with its previous guidance of low- to high-single-digit percentage growth and market expectations of 8.2%, according to a consensus forecast provided by the company. Adjusted net revenue grew organically by 5.9% to EUR17.81 billion, beating market expectations of EUR15.19 billion. Consolidated beer volumes--which includes its namesake brand as well as more than 300 other beers such as Amstel, Red Stripe, Sol and Desperados--rose 2.1% organically, missing market expectations of a 3.2% increase.

Source: Wall Street Journal July 29, 2024 06:21 UTC