Heineken posts 10% third-quarter profit leap

Dutch brewer Heineken reported a nearly 10-percent leap in third-quarter net profit on Wednesday to 577 million euros ($749 million), backed by  increased appetite for its beers worldwide other than in western Europe. Sales in Europe were undermined by the effects of austerity measures on consumers' pockets, the group implied in its statement. Sales reached 4.97 billion euros, up 7.1 percent from the figure 12 months ago, and in line with the 4.96 billion euros forecasted by analysts in a Dow Jones Newswires poll. Demand for the firm's beer rose by 4.8 percent in the Asia Pacific region. In the Americas, group beer volume grew by 4.4 percent while in Africa and the Middle East, demand rose 3.5 percent. In Western Europe however, beer volume declined 2.1 percent, mainly owing to a double-digit plunge in Portugal "due to the challenging economic environment", Heineken said "The effect of cautious consumer spending in the on-premise channel contributed to a low-single digit decline in the UK, Netherlands and Spain," added the brewer. One of the world's top five brewers, Heineken was founded in the 19th century and produces and sells more than 200 brands of beer and cider including Heineken and Amstel beer and Strongbow cider.