AMSTERDAM (dpa-AFX) - Dutch brewing major Heineken N.V. (HKHHF.PK) on Wednesday reported higher revenues for the third quarter. The company also confirmed its guidance for fiscal 2023.
Total revenues for the third quarter grew 2 percent to 9.604 billion euros 9.415 billion euros for the same period last year.
Adjusted revenue was 8.015 billion euros, compared to 7.788 billion euros.
Adjusted Net revenue organic growth was 4.5 percent for the quarter, and adjusted Net revenue per hectolitre organic growth was 9.7 percent.
Heineken volume grew 2.3 percent, while Beer volume organic growth was negative 4.2 percent on challenging economic conditions.
In the quarter, Premium beer volume fell 5.7 percent organically driven by Vietnam and the exit from Russia.
For the first nine months of 2023, the reported net profit was 1.92 billion euros, down from 2.20 billion euros last year.
Looking forward to fiscal 2023, the company said it continues to expect stable to mid-single-digit adjusted operating profit organic growth.
On Tuesday, shares of Heineken closed at 84.38 euros up 1.71% in Amsterdam.
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