Heineken cautious despite sales boost

● Dutch drinks firm eyes further growth but warns over headwinds

in Mozambique. However, it said it expects a negative impact from foreign currency translation in 2018 compared with 2017.

The company also yesterday launched a Drop the C programme which aims to increase its use of renewable energy for production from the current level of 14 per cent to 70 per cent by 2030.

New emission goals will be set for distribution, cooling and packaging based on science-based targets in the next two years. Since 2008, carbon emissions at the group’s breweries have decreased by 41 per cent and in 2017 the company reached its 2020 emission targets in production.

Heineken’s deal to buy 1,900 pubs from Punch Taverns, which formally completed at the end of last year, added to the 1,100 sites it already operated through its Star Pubs and Bars business.

The Scottish Licensed Trade Association had voiced fears that the deal would hit competition in the market but the deal eventually got the green light from regulators after Heineken offered to offload pubs in 33 areas where the Competition & Markets Authority (CMA) had expressed concerns that the £403m deal could lead to higher prices and reduced choice for consumers.