Heineken's full-year operating profit exceeded market expectations Wednesday, as growth in the Americas and Eastern Europe drove sales.
Heineken reported net profit of 930 million euros ($1.21 billion) for 2006, up 12.6% from the 840 million euros ($1.10 billion) earned in 2005.
The company posted a 2006 operating profit of 1.6 billion euros ($ 2.10 billion), excluding certain items, an increase of 12.7% compared to year-ago figure of 1.4 billion euros ($1.83 billion). Revenues were 11.8 billion euros ($15.45 billion).
The results were about in line with the mean forecast in a Reuters' poll of 11 analysts for operating profit of 1.6 billion euros and ales of 11.9 billion euros ($15.58 billion).
“Heineken expects to achieve organic growth in net profit in the range of 10% to 33% in 2007," Heineken Chairman and CE Jean-François van Boxmeer said in a statement.