Dutch brewer Heineken has recorded a drop in sales in 2009 and expects the sales volumes of beer to decrease further this year. Despite the decrease sales, Heineken was able to record a 2.7 increase in revenue to £12.9 billion, with profits up by 4 per cent as a result, to over £920 million. The increase in revenue has been attributed to price rises on beers . Heineken’s involvement in the European and North American markets has exposed it to the economic downturn, though the latest figures will be a welcome boost.
Heineken’s chairman, Jean-Francois van Boxmeer, didn’t rule out any price rises in 2010, but did pledge that any rises wouldn’t be as steep as those made in 2009. Mr van Boxmeer said that the greater public wealth was working against beer brewers, as people opt for other, more sophisticated drinks such as wine .
Danish brewer Carlsberg posted even more impressive figures, reporting a 38 per cent increase in profits to £425 million in 2009. The increased profits were achieved in spite of a 1 per cent dip in revenue, which has been attributed to currency fluctuations, while strong performance in Asia and Eastern Europe led to a 6 per cent increase in beer volumes.
Giant Brewers Report Profits
Thu, 25 Feb 2010
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