Heineken guides for lower margin growth in 2018
Heineken NV, the world's second largest brewer, said today that it expected its operating margins to expand by less than previously, citing a volatile market environment.
The Dutch brewer, whose Heineken lager is the top seller in Europe, had a target of increasing its operating margin by 40 basis points per year between 2014 and 2017 and said it expected this margin to increase by 25 basis points in 2018.
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Operating profit before one-offs in 2017 came in at €3.76bn, a gain of 6.2pc, and in line with the average forecast in a Reuters poll of €3.75bn.