Heineken reports sales, profit drop

HEINEKEN NV, the Amsterdam-based brewer, has reported first half earnings showing a small drop in both revenues and profits - but says its underlying performance was good.

NET profit was 631 million euros ($A946.45 million), from 639 million euros in the same period a year ago.

Sales were down 1.4 per cent to 1.2 billion euros, which Heineken, the largest brewer by sales within Europe, said was due to the strong euro.Stripping out currency and acquisition effects, Heineken said its sales prices were up 1.5 per cent, and sales volumes rose 3.9 per cent.Chief Executive Jean-Franois van Boxmeer said on Wednesday the company's operations grew on a like-for-like basis in almost all regions in the first half but warned that growth in underlying profit and revenues would "moderate" in the second half.Meanwhile Danish brewer Carlsberg says uncertainty in its eastern European and vast Russian market continued to weigh on its financial performance during the second-quarter of the year.Carlsberg said on Wednesday net profit grew slightly to 2.2 billion kroner ($A42.63 million), up from 2.1 billion for the same period a year ago, on a modest revenue increase to 19.2 billion kroner for the three-month period ending June 30 against 19.06 billion kroner.The group said its eastern European markets are "increasingly challenging and uncertain", and expects them to deteriorate further in the second part of 2014 especially with consumption declines in Russia and Ukraine.Carlsberg's full-year net profit was expected "to decline by mid- to high-single-digit percentages".

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