Dutch brewer Heineken announced a 12.5% increase in half-year operating profit on Monday, falling short of analyst expectations and causing its shares to drop 7%.
Despite a disappointing performance, the company raised its full-year guidance, citing solid first-half results and plans to increase investments.
Despite the mixed results, Heineken’s executives expressed confidence in the company’s solid first-half performance and planed to step up investments.
This confidence led to an increase in full-year profit guidance, with the company now expecting organic operating profit growth of between 4% and 8% in 2024.
However, this guidance remained below analyst expectations of 8.2% growth, and some investors may be disappointed by the ongoing caution in Heineken’s forecast.
Bernstein analyst Trevor Stirling noted that there was “food for bulls and bears” in Heineken’s results, citing progress on margins but also the company’s cautious outlook.
One of the major factors impacting Heineken’s results was an €874 million ($948 million) impairment related to its Chinese partner China Resources Beer.
This write-down prompted a net loss for the company, although CFO Harold van den Broek emphasised that the impairment was solely due to a decline in the business’ share price and that the partnership was otherwise performing well.
Overall, Heineken’s half-year results presented a mixed picture. While the company’s operating profit increased, its performance was impacted by external factors and its guidance remained cautious.
Boluwatife Enome
Follow us on:
Americans are headed to the polls to choose the next president in a tightly contested…
An Abuja court has struck out the case against #EndBadGovernance protesters as the AGF discontinued…
The UK has confirmed two more cases of the new mpox variant, clade Ib
Ekiti mourns as Chief Judge Justice Adeyeye dies, succumbing to injuries from a court building…
Boeing workers have accepted a new contract with a 38% raise, ending a seven-week strike…
Eight individuals are on trial in Paris, accused of inciting the murder of teacher Samuel…
View Comments
📞📞📞📞📞📞Vehicles Are Impounded Due To Smuggling And Improper registration.
Toyota Sienna=700,000
Toyota Picnic=#650,000
Toyota Camry Muscle=850,000
Toyota Spider=1.2million
• Toyota Land Cruiser-N1.5 million
• Toyota Prado N1. 8million
• Toyota Corolla –N650,000
• Toyota Camry –N450,000-N1M
• Toyota Avensis – N950,000-N1M
• Toyota Yaris – N800,000
• Toyota Venza – N2.2 million
• Toyota RAV4 SUV –N950,000
• Toyota Hilus Pickup-N950,000
• Toyota Dyna Truck – N1.3million
• Toyota Hiace Bus – N1.5 million
* Toyota Highlander-N1.2 million
*Toyota Big daddy-N850,000
Honda Civic cars – N850,000
Honda Accord – N950,000
Honda CR-V –N980,000
Honda CR-V –950,000
Honda Pilot – N900,000
*Prices of some Volswagen cars:
golf 1 = 250,000
Golf 2,-N350,000
golf 3 -400,000
golf 5 -N500,000
Jetta-N350,000
Passat-N450,000.
Lexus RX300-N950,000
Lexus RX330-N1.2 mill
Lexus RX350-N1.5 mill
Lexus GX460-N3.2 mill
Lexus GX470-N4.5 mill
Toyota Sienna = 700,000
WE DELIVER TO 36 STATES
YOU CAN CALL THE MARKETING OFFICER FOR MORE INFORMATION ( Omar ) OR YOU ADD ME UP ON WHATSAPP
+234O8O 6739 9O9O