Dutch brewer Heineken N.V. said on Monday that net profit fell 49% to €586m in the first-half of 2016, after removal of exceptional items. It added that if it hadn’t been for the exceptional items, net income would have been €977m ($1.1bn), a 6.8% increase from last year’s €915m.
Heineken reported strong results in half-year as demand for its products in Asia and Western Europe offset weaknesses in Africa, Middle East and Eastern Europe.
Heineken’s Chief Executive Jean-Francois van Boxmeer said while the company had “performed well in volume, revenue and profits,” the downside had been its “subdued performance in Africa and the Middle East.”