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Heineken shares hit four-year high on 1Q beer sales

Heineken, the world’s third largest brewer, sold more beer than expected in the first quarter and persuaded consumers to switch to premium brands, helping its shares to a four-year high.

Europe’s largest beermaker said on Wednesday beer volume grew 4.7 percent on a like-for-like basis, with revenue up 6.8 percent. Volume growth was more than double the rate the market had expected.

Analysts said that while Heineken had benefited from mild winters in much of Europe and North America, an early Easter and an extra leap-year day, volume and revenue growth were still impressive. Revenue per hectolitre increased 3.5 percent.