By Matteo Castia

Heineken NV said Wednesday that net profit rose in the first quarter on the back of higher volumes in more than 40 of its markets.

The Dutch brewer posted a net profit of 168 million euros ($202.2 million) for the quarter, compared with EUR94 million in the year-earlier period and EUR299 million in the comparable period in 2019.

The company said volume for the Heineken brand rose 12% year-on-year, driven by progress in Eastern Europe, Africa, Middle East, Asia Pacific, and at a more modest pace, the Americas.

Europe was in decline as on-trade was hurt by the coronavirus pandemic and associated restrictions, Heineken said.

"We expect market conditions to gradually improve into the second part of the year, depending on the roll-out of vaccines," the company said.

Write to Matteo Castia at matteo.castia@dowjones.com

(END) Dow Jones Newswires

April 21, 2021 02:39 ET (06:39 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.
Grafico Azioni Heineken (EU:HEIA)
Storico
Da Mar 2024 a Apr 2024 Clicca qui per i Grafici di Heineken
Grafico Azioni Heineken (EU:HEIA)
Storico
Da Apr 2023 a Apr 2024 Clicca qui per i Grafici di Heineken