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Heineken NV profit misses consensus by 26.0% in H1

Heineken NV said its first-half normalized net income was €1.35 per share, compared with the S&P Capital IQ consensus estimate of €1.82 per share.

EPS rose 8.0% year over year from €1.25.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €767.3 million, a gain of 8.1% from €709.9 million in the year-earlier period.

Total revenue rose on an annual basis to €10.47 billion from €10.09 billion, and total operating expenses grew on an annual basis to €8.84 billion from €8.63 billion.

Reported net income increased 48.6% on an annual basis to €872.5 million, or €1.53 per share, from €587.1 million, or €1.03 per share.