Heineken yesterday announced its trading update for the third quarter of 2017, which showed solid performance and accelerating growth in the Asia Pacific, Africa, Middle East and Eastern Europe.
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Consolidated beer volume rose 2.5 percent, with growth in the Asia Pacific, the Americas, Africa, Middle East and Eastern Europe offsetting lower volumes in Europe, according to the company’s report.
Organic consolidated beer volume was up 12.2 percent in the Asia Pacific region, with volume experiencing double digit growth in Cambodia due to new facilities finished last year. Vietnam also underwent similar growth driven by beer brand Tiger.
Jean-François van Boxmeer, the CEO of Heineken, said performance in the third quarter was solid, with an acceleration of organic volume growth in the Asia Pacific, Africa, Middle East and Eastern Europe.
“Growth in Asia Pacific continued to be driven by Vietnam and Cambodia, whilst in Africa, Middle East and Eastern Europe, the main contributors were Russia, Ethiopia and South Africa.
“In the Americas, Mexico continued to deliver and weaker volumes in the US were offset by growth coming from Brazil,” he said.
“Europe had to face tough comparatives, partly due to less favourable weather in some key markets,” he said, adding that during that period they completed the acquisition of Punch Securitisation A.
“Our full year expectations remain unchanged.”