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Heineken casts doubt on 2023 margin goal as inflation spikes

Published by
Reuters UK

By Philip Blenkinsop BRUSSELS (Reuters) -Heineken cast doubt on its mid-term profit margin target due to the uncertain impact of spiralling inflation on beer consumption, after reporting stronger than expected earnings in 2021 from higher prices and cost savings. The world’s second-largest brewer said on Wednesday the COVID-19 pandemic would still affect 2022 revenue, with a protracted recovery in bar trade in Europe, and said the impact of inflation and supply chain pressures would be significant. The maker of brands including Tiger, Sol and Strongbow cider – as well as Heineken, Europe’s top…

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