World: Heineken reports unexpected increase in beer shipments in Q1

Heineken NV, the world�s second-largest brewer, reported on April 19 an unexpected increase in beer shipments, led by standout growth in Asia.

Beer volume rose 0.6 percent in the first quarter, the Amsterdam-based company said, beating the 0.7 percent decline expected by analysts. The figure excludes the impact of acquisitions, disposals and currency swings. Profit rose 11 percent to 293 million euros ($314 million). The stock gained 1.2 percent in early trading.

The brewer�s Tiger brand has been driving growth in Asia, where Heineken�s biggest markets include Vietnam and Cambodia. That helped prevent volumes from shrinking in the first quarter after Heineken�s shipments accelerated in the past three years. The company reiterated that it anticipates an increase in sales and profit in 2017.

�Asia Pacific continued to outperform and volume in Europe was solid,� Chief Executive Officer Jean-Francois van Boxmeer said in the statement. Conditions in the company�s Africa, Middle East and Eastern Europe division remain challenging, he said.

Heineken is also expanding in Africa, where it�s acquired Stellenbrau, a beermaker based in South Africa�s western Cape, submitted a bid for a local Coca-Cola bottler and built a brewery in Ivory Coast to take on market-leader Castel.