Heineken reports 76% drop in Q3 net profit

Badly hit by the on-off coronavirus restrictions on the hospitality sector, Heineken says it aimed to cut personnel costs by 20%. – EPA pic, October 28, 2020.

DUTCH brewing giant Heineken said today its nine months to September net profit plunged 76% to €396 million (RM2 billion) and restructuring was needed to offset the “significant impact” of the coronavirus.

Heineken said the pandemic and accompanying lockdowns, which brought the global economy to a halt, saw sales by volume fall 8% for the period.

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