Heineken witnesses “volume weakness” in July/August beer sales
Chairman and Chief Executive of Heineken’s Executive Board Joan-Francois Boxmeer pointed out that the company delivered an “incremental €82 million of costs savings through our Total Cost Management programme”.
Volume development in parts of Europe and the US is expected to remain challenging given the current economic uncertainty, high unemployment and ongoing weak consumer confidence.
“Heineken has witnessed volume weakness in the high-selling season of July and early August 2011, reflecting poor weather conditions in Europe, in combination with lower consumer confidence in some key markets,” reports the world’s third-largest brewer, “This will affect second half 2011 volume and profit performance and therefore Heineken expects full year net profit (beia), on an organic basis, to be broadly in line with last year.”