February 12, 2018 / 6:09 AM / 8 days ago

Heineken guides for lower margin growth in 2018

BRUSSELS, Feb 12 (Reuters) - Heineken NV, the world’s second largest brewer, on Monday said it expected its operating margins to expand by less than previously, citing a volatile market environment.

The Dutch brewer, whose Heineken lager is the top seller in Europe, had a target of increasing its operating margin by 40 basis points per year between 2014 and 2017 and said it expected this margin to increase by 25 basis points in 2018.

Operating profit before one-offs in 2017 came in at 3.76 billion euros ($4.62 billion), a gain of 6.2 percent, and in line with the average forecast in a Reuters poll of 3.75 billion euros. ($1 = 0.8141 euros) (Reporting by Robert-Jan Bartunek; Editing by Catherine Evans)

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