Heineken reports Q3 sales increase of 0.5% to €4.65B, with gains in Eastern Europe and Africa outweighing falls in Western Europe

Nevin Barich

AMSTERDAM , October 26, 2011 (Associated Press) – Heineken NV, the world's third largest brewer, says sales grew 0.5 percent in the third quarter on a mix of 2.5 percent average price increases and a 0.5 percent volume increase, offset by a stronger euro.

Sales were euro4.65 billion, the company said Wednesday, with gains in Eastern Europe and Africa outweighing falls in Western Europe, its most profitable region.

The family-owned company reports earnings twice annually, and didn't release any earnings figures Wednesday. It said operating profits fell an unspecified amount due to the performance in Western Europe, as well as investment costs. It expects full year earnings to be flat before exceptional items.

First half net profit was euro605 million ($872 million) on sales of euro8.36 billion.

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