Heineken profits up 7 pct; more growth expected

Heineken sold more beer in almost all parts of the world during the first half of 2016. Increased sales boosted the Dutch brewer's net profits, which increased 7 percent to 977 million euros during the first six months, ANP reports. Heineken sales increased particularly in emerging markets such as Mexico and Vietnam, but sales in Europe also went well. During the first half of this year Heineken's turnover increased by 2 percent to 10.1 billion euros and 4 percent more beer was sold than in the same period last year. Net profits, adjusted for non-recurring items, amounted to 977 million euros. Operating profits was 10 percent higher than the first half of 2015 and amounted to 1.7 billion euros. According to CEO Jean-Francois van Boxmeer, Heineken had a "very good" first quarter" and a "solid" second quarter. Sales are up and costs were kept under control. In the coming months the company expects further growth, despite unfavorable exchange rates.