Printer Friendly

Heineken N.V. pessimistic about its domestic growth, looks to overseas markets.

Following a report do first-half net income has fallen, Heineken N.V. reported that they don't expect to continue the growth posted in earnings for normal operations.

First-half net income fell 6.4%, to 220.1 million guilders ($118.6 million), due to a decline in sales and to a one-time gain that buoyed results in the year earlier period. The company also declared an unchanged interim dividend of 1.50 guilders (80 U.S. cents) a share.

For the remainder of the year, Heineken said it isn't particularly optimistic, saying it doesn't expect to continue the 11% growth it posted in earnings for normal operations.

"The standard segment of the beer market is falling in Europe due to the recession," a spokesperson said, adding that while the company will try to hold market share, it expects the volume of deliveries to fall.

Internationally, however, the company said that some growth is expected.

Heineken said that there is room to expand market share in the premium-beer market in Europe, the U.S. and Asia, with profit margins helped by continuing cost cutting.
COPYRIGHT 1993 Business Journals, Inc.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:Modern Brewery Age
Date:Sep 13, 1993
Words:182
Previous Article:BATF will allow release of alcohol risk/benefit data.
Next Article:Hop growers report sales decline for imported varieties.
Topics:


Related Articles
Heineken looks into operational changes.
Heineken enters Thai joint venture.
Heineken N.V. reports profit increase for 2001.
Heineken forecasts further growth in 2002.
Quilmes opposes Heineken lawsuit.
Heineken posts solid numbers in 2002.
Corona has become a worldwide favorite.
Heineken CEO notes volume declines.
Heineken N.V. notes increase in profits.
Heineken to offer home draft systems in Europe.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters