Heineken gains on Asia, Africa-led profit beat
BUZZ-Heineken gains on Asia, Africa-led profit beat ** Shares in Dutch brewing giant Heineken HEIN.AS gain around 2% after the company reported a first-half profit beat
** J.P. Morgan says that Heineken delivered "strong (...) results overall," with the Asia-Pacific and Africa & Middle East divisions driving 6.4% organic operating profit growth, ahead of the 3.3% consensus forecast
** However, the broker does expect pressure on the stock after a strong rally in June, the announcement of a new CEO, and renewed focus on disappointing performance in Europe
** "Strong profit delivery, good enough," Jefferies says, noting the profit beat could lead to changes to its consensus on operating profit down the road
** Shares in rival brewer AB Inbev ABI.BR remain muted in Brussels trading
(Reporting by Jakob Van Calster)
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