Heineken NV has reported high sales and raised it full-year profits forecast, following "the positive development" of its third quarter.
The Netherlands-based brewer said "strong pricing, improved sales mix and aggressive cost cutting" had lead to renewed optimism for the firm.
Sales in the third quarter totalled US $6.02 billion, despite a 4.7% slide in volumes for the period.
According to a report at online beverage portal just-drinks.com, the brewer said: "In Europe, Asia and the Americas volume continues to be under pressure as a result of the global economic conditions, which also result in consumers trading down to low-margin private label beers, a segment in which Heineken does not seek to compete."
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Heineken added that it had raised its full-year profits forecast to a low double digit, compared to an earlier estimate in the year of a high single digit.
"Following the positive development of Heineken's financial performance in the third quarter and given the current trading, Heineken increases its forecast for organic net profit (beia)," added Heineken.
"Net profit (beia) in 2009 may still be slightly lower than in 2008, due to weaker currencies in the second half of the year and the negative contribution of first time consolidation in the first half."
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