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Heineken sees profits rise in 2014

Xinhua, February 11, 2015 Adjust font size:

Dutch brewer Heineken on Wednesday reported its net profits rose by 11 percent to 1.51 billion euros (1.71 billion U.S. dollars) in 2014, compared to 1.364 billion euros in the previous year.

The group's revenue was 21.191 billion euros in 2014, 0.1 percent higher than in 2013.

Revenue growth benefited from positive pricing and positive sales, the firm said. The increase was stronger in the first half of the year due to favorable weather, the football World Cup in Brazil and a soft comparable prior period.

"Our strong performance reflects the success of our strategy," CEO Jean-Francois van Boxmeer said in a press release.

"We continued to invest in our portfolio of brands and we have significantly improved our commercial execution. We combined this with compelling consumer marketing and a powerful innovation agenda. As a result, Heineken premium volume grew 5.1 percent and a number of our global brands achieved double digit growth," he added.

Heineken stated that it expects positive organic revenue growth in 2015 with volume growth at a more moderate level than 2014. Continued volume growth in developing markets is expected to offset more subdued volume growth elsewhere. (1 euro = 1.13 U.S. dollar) Enditem