Heineken posts 9.9 per cent rise in annual earnings ahead of takeover of Punch Taverns


The Dutch set posted underlying operating profit of 3.54 billion euros (£3 billion) stay year, up from €3.38 billion (£2.9 billion) and said it dispose ofed 3 per cent more beer by volume.

It revealed a £976 million to gates from the Brexit-hit pound, as well as currency depreciation in other peddles, although turnover still rose by 1.4 per cent to £17.7 billion.

The group estimated it is set for further sales and profit growth over the year ahead, but cautioned during the course of «volatile» economic conditions and is expecting a further currency impact of up to £64 million.

Heineken sealed a huge quantity in December to snap up Punch Taverns with private equity outfit Patron Capital.

The deal, which values Punch at £402.7 million, will see the Dutch beer colossus buy 1,895 pubs and Patron 1,329.

Heineken and Patron fought off a rival bid from the pub bond’s co-founder Alan McIntosh with a 180p-per-share offer.

The parcel out is expected to go through by the end of the first half of 2017.

Heineken said beer reduced in price on the markets by volume declined «slightly» in the UK last year, but premium sales saw double-digit expansion.

Global sales of Heineken in the premium market rose 3.7 per cent by amount thanks also to double-digit growth across Brazil, South Africa, Mexico and Romania.

It said new cider the sauces were well-received in the UK, with double-digit sales growth in the final six months of 2016.

The gather saw ongoing strong sales of Strongbow, with good demand for its Strongbow Threatening Fruit and Strongbow Cloudy Apple, alongside Old Mout.

Heineken is the beget’s number two brewer behind Budweiser firm Anheuser-Busch InBev, which sealed its put as the biggest player after its mammoth £79 billion takeover of SABMiller tardy last year.

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