LONDON (ShareCast) - (ShareCast News) - Shares in Dutch brewer Heineken rallied after it posted a rise in first-half profit and revenue as solid sales in Latin America, Asia and the US helped to offset weakness in the European market.
Net profit grew 81% to €1.14bn on group revenue of €10.93bn, up from €10.20bn.

Chairman and chief executive officer, Jean-Francois van Boxmeer, said: "These solid results are in line with our expectations and demonstrate the further progress we have made in delivering on our strategy.

"This continued positive momentum reflects the benefit from our exposure to high growth markets, a sustained focus on marketing and innovation, and the ability to drive efficiencies throughout the business."

He added that while economic conditions and the pricing environment in certain key markets remain challenging, the company is confident of continued progress and its full-year expectations are unchanged.

In Mexico, which is the brewer's largest market, sales volumes were up in the low single digits in the first half, benefiting from effective marketing programmes and strong sales execution.

In Western Europe, however, sales continued to fall compared with last year, when they were lifted by favourable weather and the World Cup.

At 14:36, Heineken shares were up 4.7% at €66.24.

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