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consumer goods

Heineken Posts Strong First Half, Shelves 2023 Margin Target

consumer goods
Heineken NV posted higher-than-expected first-half earnings, as consumers bought more beer despite inflationary pressures. REUTERS/Soe Zeya Tun

KONTAN.CO.ID - BRUSSELS. Heineken NV on Monday posted higher-than-expected first-half earnings, as consumers bought more beer despite inflationary pressures. But the world's second-largest brewer shelved its margin target for 2023 as costs spiked.

The brewer of Heineken, Europe's top-selling lager, as well as Tiger, Sol and Strongbow cider, sold more beer than expected, with expansion in all regions and revenue and profit above market consensus.

CEO Dolf van den Brink told Reuters that the beer market appeared very resilient, with no sign so far that high inflation was curbing drinking.

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