0633 GMT - Heineken's cautious stance on its full-year guidance muddled a message of strong profit growth achieved in the first half, Berenberg says. Both adjusted net revenue and operating profit came in ahead of expectations, with the benefits of pricing and sales mix and higher profitability in Asia and Africa offsetting a drag from weaker sales volumes in Europe, analysts at Berenberg say in a research note. "Management insisted it prefers to remain cautious given the macroeconomic environment, noting several headwinds that will hit profit growth in [the second half]," the analysts say. These headwinds include U.S. tariffs, currency hedges that are due to role over and the timing of a key Vietnamese festival, Berenberg says. Shares in the Dutch brewer closed at 71.08 euros Monday. (adria.calatayud@wsj.com)
(END) Dow Jones Newswires
July 29, 2025 02:33 ET (06:33 GMT)
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