Companies
Operating profit declines 22 per cent at Heineken
Heineken increased the impairment for its Russian business to €201 million
Adjusted operating profit at Heineken fell 22 per cent in the first half of the year, according to interim results from the brewer on Monday.
Heineken lowered its earnings forecast as the brewer’s largest price increases in more than a decade drove consumers away from its brands, especially in its key market Vietnam.
Beer volume dropped more than expected as pricing increased almost 13 per cent.
Brewers are struggling to pass high raw material costs ...
