Heineken profits down 1.4%

Brewing giant Heineken saw profits fall 1.4% to €1.43bn in 2011 due to rising costs, although emerging markets ensured revenues grew 6.1% to €17.1bn.

The Foster’s and Sol brewer lifted market share in the UK, but sales volumes for its Strongbow cider declined in the mid-single digits due to comparisons with a strong World Cup year in 2010.

Heineken Ireland enjoyed organic growth of 0.2 share points and now holds 26.5% of the domestic beer market primarily driven by strong performances from both the Heineken and Coors Light brands.

Heineken Ireland turnover for 2011 increased to €464m with increases of 2% in organic revenues.