Heineken beer sales slump as consumers reject price increases

Brewers are struggling to pass high raw material costs onto consumers without driving consumers away to cheaper brands.

Heineken operates a brewery in Cork city. Picture Denis Minihane.

Shares in Heineken plunged after the Dutch brewer cut its earnings forecast on weakening consumption following double-digit price increases.

Operating profit slumped 22% on an adjusted basis in the first half, the Amsterdam-based brewer said Monday. Beer volume dropped more than expected as pricing increased almost 13%.