Heineken's Brand Volume Growth Likely to Boost Profit -- Market Talk

Dow Jones04-24

1036 GMT - Heineken's 1Q came ahead of expectations driven by a robust volume recovery in beer volumes, Citi analysts say in a note. The Heineken brand itself shined after growing an impressive 12.9%, they say, noting that the figure should support profitability. Added to that, the company has scope for an earnings upgrade in the near term as Citi expects current headwinds from Nigerian business to ease and trading momentum to improve in the 2Q/3Q. "After several quarters of over-promising and under-delivery, the combination of the strong start and unchanged guidance metrics should be enough to take the stock forward," they add. Shares are up 0.3%, but down 12% on a 12-month basis. (michael.susin@wsj.com)

(END) Dow Jones Newswires

April 24, 2024 06:37 ET (10:37 GMT)

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