0748 GMT - Heineken is expected to report robust profit growth in the first half and given the board's new conservatism, it might not make a major guidance upgrade until the third quarter, Barclays analysts Laurence Whyatt and Mandeep Sangha say in a note. The Dutch brewer is likely to benefit from a more profitable first half given easy comparatives and marketing weighted to the second, they say, forecasting a profitability growth of 23.6% compared with Bloomberg consensus of 11.3%. This boost could be largely driven by Vietnam market and--to a lesser extent--Americas and Europe, they add. Second-half profit growth should be much lower but it should still deliver EBIT growth of 12.1%, ahead of the current guidance, the analysts add. Heineken is scheduled to report 1H earnings on July 29. Shares are down 0.1%. (michael.susin@wsj.com)
(END) Dow Jones Newswires
June 28, 2024 03:48 ET (07:48 GMT)
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