Heineken has reported a rise in sales, as profits increased in the first half of the year, as customers drank more despite the brewer raising prices.
The company said revenues increased 37% to €16.4 billion (£13.7 billion) in the six months to July, compared with the same period last year, during lockdown.
Operating profit hit €2.1 billion, (£1.76 billion) a 20.6% rise, which Heineken said was driven by volume recovery, pricing and revenue management actions”.
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Heineken said compared with pre-pandemic period in 2019, the volume of drinks sold were up 0.8%, with net revenues increasing 14%, partially due to “inflation-led pricing”.
For the first half, Heineken reported a 7.6% rise in beer volume, with 2022 full year expectations remaining unchanged.
“Our business performed well in the first half of 2022,” Heineken CEO Dolf van den Brink said.
“We grew ahead of the industry in more than half of our markets and the Heineken brand again showed strong momentum, boosted by stepped up brand support.
“Our actions on pricing, revenue management and productivity offset significant inflationary pressures in our cost base. As a result, operating profit is now firmly ahead of 2019.”
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