NETHERLANDS: Heineken expects weaker growth in 2015 | Progresiv
Heineken has said it expects sales and profit margins to grow at a slower pace in 2015, citing tough comparatives and unrest in key markets. The world’s third-largest brewer said it now expects revenues to grow slower than in 2014, partly because of last year’s sales were boosted by the FIFA World Cup. It also expects operating margin to be impacted by 25bps (due to the sale of the Mexican packaging business), which could see it miss its medium-term target of 40bps growth. 
The announcement came after the group said underlying operating profit for 2014 grew by 6.4% to €3.13bn, with margins growing by 90bps. Volumes were up 2% on an organic basis, while revenues edged up 0.1% to €21.2bn.
Sales edged up 0.3% in Western Europe, and also saw sales increase in the Americas, Asia, and Africa. However, figures were down in Eastern Europe, hurt by the contraction in Russia. (www.kamcity.com)
