Heineken reports 12.5% rise in profit

By Reuters

Jul 30, 2024 12:08 am

LONDON — Dutch brewer Heineken reported a 12.5 percent rise in half-year operating profit on Monday after an anticipated boost from sporting events in June and July did not materialize, missing analyst estimates and sending its shares down 7 percent.

The results and an 874-million euro ($948 million) impairment related to its Chinese partner China Resources Beer disappointed investors even as the maker of Europe's top-selling lager raised its full-year guidance, as expected.

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