Heineken Shares Slide After 1st Half Results
July 29 2019 - 3:48AM
Dow Jones News
By Anthony Shevlin
Shares in Heineken NV (HEIA.AE) trade lower after the company
posted a fall in its first-half net profit but backed its full-year
guidance, which analysts say will require a strong second half.
The Amsterdam-based brewer said net profit for the period was
936 million euros ($1.04 billion) compared with EUR950 million the
year earlier.
At 0708 GMT, shares in Heineken traded 6.2% lower at
EUR96.66
Net revenue grew 5.6% on an organic basis to EUR11.45
billion.
Consolidated beer volume rose 3.1% organically and the Heineken
brand volume rose 6.9%.
Citi analysts said Heineken's first-half results are weak and
the company will need a "significant 2H recovery" to meet its
reaffirmed guidance.
"With a very tough 3Q comparison base to come, this appears a
tall order."
Jefferies analysts, however, said the soft first-half results
offer a buying opportunity given Heineken's attractive long-term
growth story.
Write to Anthony Shevlin at anthony.shevlin@dowjones.com;
@anthony_shevlin
(END) Dow Jones Newswires
July 29, 2019 03:33 ET (07:33 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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