By Robin van Daalen
AMSTERDAM-- Heineken NV said third-quarter profit fell 4.8%,
with lower sales in Europe offset by growth in emerging
markets.
Net profit for the third quarter came in at EUR460 million,
compared with EUR483 million in the same period a year earlier.
Revenue fell 1.5% to EUR5.1 billion ($6.49 billion), from
EUR5.18 billion in the third quarter of 2013. When stripping out
the effect of divestitures and currency effects, revenue was up
0.2%.
However, sales and volumes in Europe fell, with Heineken blaming
unseasonably wet weather conditions. Other regions continued to
grow.
"Amid a volatile global environment and poor weather during the
high selling season in Europe, we maintained top-line growth,"
Chief Executive Jean-François van Boxmeer said.
The Dutch brewer reiterated its expectations for the full year.
The company expects to grow margins in 2014 above the medium-term
target level of 40 basis points a year.
In September, Heineken rejected a takeover approach by
global-beer rival SABMiller PLC, saying the controlling family
wants to preserve the heritage and identity of Heineken as an
independent company.
On Wednesday, Heineken's Chief Financial Officer René Hooft
Graafland reiterated the family's position and declined to further
comment on the approach by SABMiller.
When asked about further sector consolidation and Heineken's
role in it, he said consolidation in the beer industry is likely to
continue.
"We have the intention to stay an active player in
consolidation," of the beer market, Mr. Hooft Graafland said.
Write to Robin van Daalen at robin.vandaalen@wsj.com
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