Dutch brewer writes down investment in China Resources Beer, driving net loss
Investors had been eager for Heineken to update its guidance since it disappointed the market in February by setting a wide-ranging outlook for profit growth.Dutch brewer Heineken raised its full-year profit guidance on Monday, even as its half-year operating profit growth missed estimates and it took an €874 million impairment charge.
Investors had been eager for Heineken to update its guidance since it disappointed the market in February by setting a wide-ranging outlook for profit growth, despite growing optimism over the outlook for brewers. Analysts on average now expect annual operating profit growth of 8.2 per cent in 2024. The brewer reported its first quarterly volume growth in a year in April.
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