Brewing giant Heineken has seen strong growth in the first half of the fiscal year, not long after the company chose to cut 3000 jobs from its workforce.
The earnings period brought $24.3 billion in revenue, a 2.7 per cent increase, and around $2 billion in net profit, a 10.2 per cent increase.
Harold van den Broek, the company’s CFO, spoke on the results ahead of the appointment of incoming CEO, Rafa Oliveira, on October 1.
“We delivered volume growth and robust operating profit expansion, with all five global brands in growth and good momentum in our premium and beyond beer portfolios,” van den Broek said
“This performance reflects the quality of our growth, the resilience of our advantaged footprint, and our ability to adapt and execute in a dynamic environment. We took further significant steps to boost productivity and build future-fit capabilities, ensuring we drive further growth efficiently.”
Revenue growth in the Asia Pacific region was Heineken’s strongest, at 10.57 per cent; its year-on-year growth in the Americas was stagnant.
“We are confident in our strategy and progress, yet remain prudent given ongoing macroeconomic and geopolitical uncertainty,” van den Broek added.
The prudence was seen in February when it announced 3000 job cuts in the first half of the fiscal year. Heineken plans to cut a further 3000 before the following financial year. The brewer said these cuts “materially advanced” organisational changes at the company.
