Heineken delivered increased volumes across all major markets in the first half of the year – but warned of “continuing volatility” in the coming months.

Beer volumes were up 4.2% on an organic basis in the past six months, with overall sales up 11% to €8.36bn. However, the brewer cut its profits forecast due to fragile consumer confidence, despite generating savings of €82m in the year to date from its ongoing cost-cutting drive.

“This is a solid performance for the first half of the year, with higher organic group beer volumes across all regions,” said chief executive Jean-François van Boxmeer.

“Our focus on transforming our geographic footprint – aligned with increased marketing investment – has enabled us to deliver robust top-line growth and gains in market share.”

Meanwhile, van Boxmeer told the Financial Times the company was unlikely to make a move in the acquisition market – but that he would be open to the right opportunity.

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