Heineken Q1 results show UK volume down

Heineken has just announced its trading update for the first quarter of 2017, showing that in the UK, volume was down low single digit due to a partial de-listing by a large customer. Premium volumes continued to grow double digit.

The company's consolidated beer volume was up by 0.6% organically, with growth in Asia Pacific and Europe offsetting slightly lower volume in Americas and Africa, Middle East & Eastern Europe.

Heineken also reported that net profit in the quarter was £246m (2016:£222).

Jean-François van Boxmeer (pictured), Chairman of the Executive Board & CEO, commented, 'Performance in the first quarter was in line with expectations, delivering volume growth against strong comparatives last year. Asia Pacific continued to outperform and volume in Europe was solid.

'In Africa, Middle East & Eastern Europe market conditions remain challenging, adversely impacting volume. In Americas, whilst Mexican volume was good this was more than offset by weaker volume in Brazil. Our full year expectations remain unchanged.'