Heineken profit rises 9.9 per cent in Q3

THE Dutch brewer Heineken NV says third-quarter net profit has risen 9.9 per cent to 577 million euros ($A735.64 million), with growth in all regions except Europe.

The company said on Wednesday profits increased thanks to higher sales and savings from jobs it had cut, offset somewhat by higher raw materials costs and investments in new capacity.

Net profit in the same period a year ago was 525 million euros. Sales rose 7.1 per cent to 4.97 billion euros, Heineken said.

"Spain, Italy, France are holding up pretty well," said chief executive Rene Hooft Graafland of the company's European operations, speaking on a conference call.

Heineken is the biggest brewer in Britain with Scottish & Newcastle brands, in the Netherlands with Heineken, and in Europe overall.

"We see some pressure on the margins, but overall these markets are pretty resilient."

Stripping out the effects of currency changes and acquisitions, sales were up 4 per cent, 2.5 per cent due to higher selling prices and 1.5 per cent due to volume increases.

Heineken said it won market share in the United States, with strong growth of its Dos Equis brand.

Global sales of its tequila-flavoured beer Desperados increased by more than 10 per cent.

Sales in the large Taiwanese market fell sharply, which Heineken said was due to competitors introducing new brands.

Fruit-flavoured beers have been a big hit in Taiwan this year, including one introduced by Japanese competitor Kirin.

Heineken said its 3.5 billion euro- buyout of the parts of Tiger beer maker Asia Pacific Breweries it doesn't already own is on track for completion in November, pending approval from regulators in Singapore.

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