Tag Archives: Half-year profits

Heineken records higher growth in half-year despite currency pressure in emerging markets

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.”

Nigerian Breweries posts lower half-year (H1) profits on higher operating costs, competitive pressure

Nigerian Breweries (NB Plc) reported a 10 percent decline in its half-year (H1) profits after tax to N21.477 bn, when compared to half-year (H1) 2014 profits after tax of N23.871 bn.

The profit and loss statement shows higher costs of sales, higher operating expenses and higher interest expense among others as contributing factors. The one bright spot was gross earnings, which grew by 7.19 percent to N151.673 bn, when compared to 2014 half-year results of N141.45 bn.