July 30, 2018 / 5:21 AM / 4 months ago

Heineken cuts FY margin forecast after lower-than-expected H1 profit

BRUSSELS, July 30 (Reuters) - Heineken NV, the world’s second largest beer maker, cut its guidance for full-year margins on Monday after reporting first-half earnings below market expectations.

The brewer of Heineken lager, Tiger, Sol and Strongbow cider forecast that its operating margin would decline by 20 basis points, compared with a previous forecast of 25 basis point increase.

The Dutch brewer, whose Heineken lager is the top seller in Europe, said that this was because of a higher-than-expected negative translational hit from currencies and a larger dilutive effect of its expanding Brazilian operations. (Reporting by Philip Blenkinsop; Editing by Subhranshu Sahu)

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