Heineken revenue and volumes beat forecasts

HEINEKEN, the third-largest brewer in the world, sold more beer at higher prices in the third quarter than a year earlier, helped by stronger African markets and a rebound in Russia to report surprise increases in volumes and revenue.

Europe’s largest brewer, whose stout brands Murphys and Beamish are brewed in Cork, warned in August that lower consumer sentiment in the US and Europe and poor summer weather in the latter would hit second half performance.

Western Europe, which represented just under half of group revenue last year, was the Dutch company’s worst performing region, with consolidated beer volumes there falling 1.7%.