<p>Heineken on Wednesday posted a €2.6 billion ($2 billion) jump in year-on-year net profit three-quarters into 2021, but reported a major slump in beer sales in Asia markets because of Covid-19 restrictions.</p>.<p>Net profit for the first nine months was up to €3.082 billion ($3.5 billion) as opposed to €396 million last year and 1.66 billion in 2019, the world's number two brewer said in a statement.</p>.<p>But the profits were boosted by an exceptional gain of €1.3 billion from a remeasurement to fair value of a previously held equity interest in United Breweries in India and full-year expectations remained below that of 2019.</p>.<p>Heineken took control of United Breweries — which makes India's popular Kingfisher brand — in July, pushing its holding to 61.5 per cent from 46.5 per cent before.</p>.<p>Overall beer volumes grew by four per cent since the start of the year, but the Amsterdam-based brewer saw a 37.4 per cent dip in key markets such as Cambodia, Malaysia, Indonesia and Vietnam in the third quarter.</p>.<p>"As anticipated, our Asia Pacific region was deeply impacted by the pandemic," Heineken chief executive Dolf van den Brink said, adding "we see the first signs of recovery."</p>.<p>Heineken continued to show strong growth in sales of its low and alcohol-free beers, particularly in Brazil, Britain, Mexico and the US, it said.</p>.<p>But Van den Brink said that markets remained "volatile and we are responding accordingly."</p>.<p>"Therefore, our expectations stay unchanged, with full-year results remaining below 2019," he said.</p>.<p>Heineken's share price dipped by around two per cent in early trade on the Amsterdam stock exchange's AEX index.</p>.<p><strong>Check out latest DH videos here</strong></p>
<p>Heineken on Wednesday posted a €2.6 billion ($2 billion) jump in year-on-year net profit three-quarters into 2021, but reported a major slump in beer sales in Asia markets because of Covid-19 restrictions.</p>.<p>Net profit for the first nine months was up to €3.082 billion ($3.5 billion) as opposed to €396 million last year and 1.66 billion in 2019, the world's number two brewer said in a statement.</p>.<p>But the profits were boosted by an exceptional gain of €1.3 billion from a remeasurement to fair value of a previously held equity interest in United Breweries in India and full-year expectations remained below that of 2019.</p>.<p>Heineken took control of United Breweries — which makes India's popular Kingfisher brand — in July, pushing its holding to 61.5 per cent from 46.5 per cent before.</p>.<p>Overall beer volumes grew by four per cent since the start of the year, but the Amsterdam-based brewer saw a 37.4 per cent dip in key markets such as Cambodia, Malaysia, Indonesia and Vietnam in the third quarter.</p>.<p>"As anticipated, our Asia Pacific region was deeply impacted by the pandemic," Heineken chief executive Dolf van den Brink said, adding "we see the first signs of recovery."</p>.<p>Heineken continued to show strong growth in sales of its low and alcohol-free beers, particularly in Brazil, Britain, Mexico and the US, it said.</p>.<p>But Van den Brink said that markets remained "volatile and we are responding accordingly."</p>.<p>"Therefore, our expectations stay unchanged, with full-year results remaining below 2019," he said.</p>.<p>Heineken's share price dipped by around two per cent in early trade on the Amsterdam stock exchange's AEX index.</p>.<p><strong>Check out latest DH videos here</strong></p>