By Adam Clark

Heineken NV (HEIA.AE) said Wednesday that it posted a net profit of 260 million euros ($321.3 million) in the first quarter of 2018, as Asian growth helped offset a sales decline in Europe due to cold weather.

The world's second-largest brewer by sales said its consolidated beer volume rose 4.3% on an organic basis, and 15% on a total growth basis from the prior year.

Organic growth was fastest in the Asia Pacific region, at 11%, including double-digit increases in Vietnam, Cambodia, Malaysia and New Zealand.

However, in Europe, beer volume declined 1.7% on an organic basis, with the benefit of an earlier Easter period more than offset by cold weather.

Heineken said its full-year guidance remains unchanged. A FactSet consensus forecasts the brewer's 2018 net profit at EUR2.19 billion.

Write to Adam Clark at adam.clark@dowjones.com; @AdamDowJones

(END) Dow Jones Newswires

April 18, 2018 03:54 ET (07:54 GMT)

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