Heineken reports satisfactory first quarter performance

Essaadi: ‘Heineken’s commendable results are due to improved operating efficiencies leveraging on its global best practices to deliver sustainable value.’

PETALING JAYA: Heineken Malaysia Bhd has reported a satisfactory performance for its first quarter ended March 31, 2017 despite challenging market conditions compounded by economic pressures.

The group reported a marginally lower net profit of RM48.97mil for the quarter compared to RM50mil during the previous year’s corresponding period. Its revenue base declined by 12.5% to RM401.11mil from RM458mil a year ago, as Heineken’s business was impacted by soft consumer sentiment.