Results for: Volume Growth

Heineken, the global beer giant, has reported a strong start to 2024, surpassing analyst expectations with a 4.7% increase in beer sales volume in the first quarter compared to the same period last year. This growth was driven by a surge in premium beer sales, particularly in emerging markets such as Nigeria, Mexico, and Brazil. Despite concerns over inflationary pressures, European sales volumes also saw a modest rise of 1.6%. Heineken’s total net revenue for the quarter reached €6.8 billion, representing a 9.4% increase year-over-year.

Procter & Gamble (PG) reported solid Q3 FY24 results, showing organic revenue growth and core EPS growth. I am confident in their volume recovery in the near future as inflation moderates. Their FY24 outlook includes 4%-5% organic revenue growth and 10%-11% core EPS growth. However, headwinds in Greater China, particularly in cosmetics, could impact FY25 growth. I believe P&G will achieve a balanced growth between volume and price in FY25, driven by falling commodity prices. The stock’s current valuation remains attractive, and I reiterate a ‘Buy’ rating with a fair value of $175 per share.