Heineken sold more beer at higher prices in the third quarter than a year earlier helped by stronger African markets and a rebound in Russia.

“This is a modest beat,” said Trevor Stirling, analyst at Bernstein Securities. “It is partly due to western Europe which was much better later in the quarter and a very, very strong central and eastern Europe.”

Revenue grew by 0.6 per cent, or 3.0 per cent on a like for like basis, to €4.65 billion compared with the €4.51 billion average forecast in the Reuters poll. – (Reuters)