Heineken reports fully year 2013 results

Heineken N.V. today announced that group revenues grew 1.3 percent for 2013.

Group operating profit increased 2.8 percent and grew 0.6 percent organically, and group operating margins expanded by 20 basis points.

The company proposed total 2013 dividend of Euros 0.89 per share unchanged versus 2012.

In 2014, Heineken expects a gradual recovery in the global economy to underpin improved trading conditions in several of its key markets, according to a statement that accompanied the earnings release.

Heineken had a solid brand performance in Nigeria, in 2013 with volumes rising by 3.5 percent in the Africa and Middle East region.

Nigeria is certainly a key growth market for Heineken which owns a majority of market leader Nigerian Breweries (NB).

NB, the second largest stock traded on the Nigerian Stock Exchange (NSE)(market cap., $7 billion) has however had a slow start to 2014, down 9.35 percent and under-performing the wider stock index, which is down by 1.34 percent.

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