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Heineken sales lower than expected after Vietnam lockdown
Brewing behemoth Heineken posted a steeper than expected decline in third-quarter beer sales after coronavirus restrictions in Vietnam.
Lockdown measures slashed volumes in Vietnam, one of its top three markets, by more than half.
The brewer said it sold 5.1 per cent less beer on a like-for-like basis than a year earlier, with Asia-Pacific sales down 37.4 per cent as COVID-19 restrictions hit Cambodia, Indonesia, Malaysia and Vietnam.
It reported disappointing sales in Europe too, after failing to deliver an expected uplift.
The brewer blamed poor summer weather in northern Europe, as well as logistics disruptions in the UK.