Heineken has reported an unexpected decline in first-quarter sales as European consumers curbed their spending amid government austerity measures.
Consolidated lager volume excluding the effect of acquisitions dropped 4.7 percent.
That compares with the median estimate of 12 analysts for a 0.6 percent increase, Bloomberg News reported.
Subscribe from just €1 for the first month!
All Digital Access + eReader
Unlimited Access for 1 Month
Then €19.99 a month after the offer period.
€149 For the 1st Year
Unlimited Access for 1 Year
90 Day Pass
Get a Business Account for you and your team