Dutch brewer Heineken on Wednesday reported a slight dip in sales for last year, mainly due to currency fluctuations, although overall beer volumes increased.
The world's second biggest brewer after AB InBev said revenue in 2024 came in at €36 billion (£30bn), compared to the €36.4bn it made the year before.
Beer volume overall grew by 1.6 per cent. In 2023, the brewer reported a 4.7 per cent decline in overall beer volume.
"Our beer volume expanded in all four regions, across both developed and emerging markets," said CEO Dolf van den Brink.
Looking ahead, the company said it expected to post "continued volume and revenue growth" despite ongoing economic challenges.
These included "weak consumer sentiment in Europe, volatility, inflationary pressures and currency devaluations across developing markets, and broader geopolitical fluctuations," the firm said.
Net profits were down sharply, at €978 million, compared to the €2.3bn posted in the previous year.
However, the company explained this was due to a one-off impairment from an investment in China Resources Beer, whose share price tanked on the Hong Kong stock exchange.
This write-down already hit the half-year results. "It's old news," said Van den Brink, describing it as a "technical adjustment."
The firm forecast operating profit before exceptional items and amortisation to be in the range of between four and eight percent in 2025.
Highland Spring Group, leading UK producer of natural source waters, said it successfully completed a competitive process to refinance its business.
The company has announced that the Bank of Scotland and Barclays, as its funding banks, will provide support as it progresses towards its stated ambition of £200 million sales by 2030.
In 2023, the business grew its sales in the year by 15.5 per cent to £130.6m and the Highland Spring brand consolidated its position as the UK’s number one plain water brand for a seventh successive year.
The company said the financial backing, which includes term and revolving credit facilities of £50m, will further accelerate the evolution of the brand and business to meet the growing demands of retail partners and consumers for healthy, high-quality, British products.
“The Bank of Scotland and Barclays funding provides a springboard for us to further invest in our business to boost sustainable growth. This package reflects their confidence in our strong operational and market performance, talented team, and iconic brand,” John Young, finance director, Highland Spring Group, said.
“We are delighted to work with both organisations as we continue to scale up and bring our exceptional products to even more retailers and customers across the UK.”
Building on the strength of the Highland Spring brand continues to be the main priority of the business, with an emphasis on expanding the business’s portfolio of products and packaging formats. A recent successful launch into the 400 million litres flavoured water category, with a new Highland Spring Flavoured Still Water range was supported by a £10m investment at the group’s main site in Blackford, Perthshire which will provide circa 25 per cent of extra capacity.
The group’s dedicated rail freight facility in Blackford, Perthshire transports 40 per cent of the water supplied from the main bottling plant by rail, removing 8,000 HGV movements from the roads, and saving over 3,000 tonnes of CO2 every year. This landmark project supports the businesses decarbonisation roadmap which aims to reduce emissions across their entire operations from source to shelf.
“Highland Spring Group was the first major water brand to introduce a 100% recycled (cap and label excluded) and recyclable bottle in the UK in 2019 and it is clear that its drive to innovate, grow the business, and prioritise environmental sustainability remain its top priorities,” Simon Sweeney, director at Bank of Scotland, said.
“We’re pleased to support the business with this financing package as it progresses in its next chapter of delivering its ambitious growth plans, including initiatives which reduce carbon emissions across its operations.”
Jamie Grant, head of Barclays corporate banking in Scotland, said: “We are committed to supporting lending via our £22bn Barclays Business Prosperity Fund and so are very pleased to have been chosen as a banking partner for Highland Spring. We look forward to supporting their exciting plans going forward.”
A persistent shoplifter targeting stores in Northumbria is now behind bars after stealing from a South Tyneside store just weeks after being handed a suspended sentence for the same offences.
As informed by Northumbria Police on Thursday (13), Michael Wright, 35, visited the Co-op store on Mortimer Road in South Shields last Thursday (6) and took laundry products without paying.
Less than a month earlier, Wright was given a 14-week suspended sentence by South Tyneside Magistrates’ Court for stealing chicken from the same Co-op store, and toiletries from the Sainsbury’s on Prince Edward Road.
After being quickly identified as responsible, Wright, of Lumley Avenue, South Shields, was arrested on Sunday (9) in connection with his latest spree of offending. The South Tyneside Magistrates’ Court on Monday (10) was sentenced him to 22 weeks imprisonment.
Following his court appearance, Constable Thubron, of South Shields Neighbourhood Policing Team (NPT), said, “Wright is a repeat thief who has flagrantly disregarded his previous suspended sentence he was given only weeks prior.
“Wright has a vast history of this type of offending – and his brazen attitude towards the orders imposed on him by a court shows his lack of regard for anyone his criminality affects.
“Crime sprees such as these do nothing except leave businesses out of pocket, and I’m pleased he’s now behind bars to prevent him causing more disorder in the local community.
“As a Force, we will continue to tackle this type of criminality.”
Rapid rise in retail crime continues to impact stores across the country with multiple industry as well as government reports showing the similar record levels of theft, abuse and violence against shop workers.
Meanwhile in Essex, two prolific shoplifters who stole almost £20,000 worth of goods have been sentenced after being caught with stolen items in their car.
Thomas McDonagh, 21, of Warren Crescent, Headington, Oxford, was jailed for 16 months after admitting to eight counts of theft across Essex in December 2024 and January 2025. His accomplice, Martin Stokes, 23, of Aylesbury Street, Bletchley, Buckinghamshire, received a 16-week jail term, suspended for 18 months, and must complete 80 hours of unpaid work.
The duo were stopped by police on 19 January while driving on the A12. Officers had linked them to multiple thefts from Boots and Next in the Stane Park retail area in Stanway, Colchester.
Upon stopping their Ford Focus, police found the boot packed with stolen goods, swiftly connecting them to 11 separate shoplifting incidents across the county, including in Chelmer Village, Chelmsford.
Snacking giant pladis has announced David Murray, currently leader of its UK and Ireland enterprise, will transition to the newly created position of global chief commercial officer.
After five years at the helm of pladis UK&I, Murray’s new role will see him take ownership of the company’s global platform and brand strategy along with its commercial transformation.
Mete Buyurgan will become the new managing director of pladis across Britain and Ireland effective 6 April.
Buyurgan, a pladis veteran of eight years, joins the Anglo-Irish division of the company from its Turkish, Eastern Europe and Central Asian operations which he ran since 2016.
Under his stewardship, pladis Türkiye, Eastern Europe and Central Asia grew revenue and profit despite significant headwinds and positioned itself at the forefront of the sustainability debate.
“While our brands like McVitie’s and Ülker have been part of peoples’ lives for decades, pladis is still a young business having started life nine years ago,” Geraldine Fraser, chief human resources officer, said.
“We have made tremendous progress together on our mission to build one of the world’s fastest growing snacks companies. Today, we take another step on that journey to evolve our business and position us for continued growth in an ever-changing retail and consumer landscape.”
Founded in 2016, pladis’ 16,000-strong team makes food across 27 bakeries and factories in 11 countries with its brands, like McVitie’s, Ülker and Flipz sold in more than 110 nations. pladis group revenue topped £2.7 billion in its most recent financial year ending 2023.
More than £20,000 worth of illicit tobacco and vapes were seized from multiple premises in an one-day operation in Meir by Trading Standards team along with officers from Stoke-on-Trent City Council and Staffordshire Police.
The operation is the latest across the city that resulted in 13 shops being closed in the last 12 months, and forms part of Operation Cece, which is a National Trading Standards initiative in Partnership with HMRC to tackle illegal tobacco.
Under the latest one day action, officers raided three shops in the area after reports of underage sales of illegal vapes and tobacco to children as young as 12.
The significant operation seized 1,084 packets of cigarettes, over 1,500 vapes and 165 large pouches of rolling tobacco.
The retail value was estimated at more than £20,000, plus more than £12,000 in evaded duty. Officers also seized 12 key rings that were either unsafe or had trademark issues.
Several people with no right to work in the UK, and other immigration issues, were found and their cases passed to the Home Office.
Councillor Amjid Wazir OBE, Stoke-on-Trent City Council’s cabinet member for city pride, enforcement and sustainability - said, “We will not tolerate the sale of illegal tobacco and vapes, which put residents at risk and cheat the taxpayer out of public money.
“Our Trading Standards teams are working round the clock to get illegal tobacco and vapes off the streets, and out of the hands of children. All forming part of corporate strategy and specifically helping to reclaim our streets.
Inspector Rebecca Price, from the Stoke South local policing team, said, “We’re working closely with the city council and wider partners in Stoke-on-Trent to tackle issues affecting local communities as part of our ongoing Making Great Places initiative.
“Retailers not complying with the law and putting local people at risk of harm are being targeted robustly on a proactive basis as part of this commitment, and I can assure local communities that similar enforcement alongside our colleagues will continue.”
The premises are now under investigation, and are facing possible criminal prosecutions including under the Licensing Act.
The Trading Standards work forms part of the city council mission to be a cleaner, greener and safer city for all who live, work and visit Stoke-on-Trent.
Keep ReadingShow less
Don Julio Tequila, owned by Diageo. The spirits giant sells billions of dollars worth of tequila and Canadian whisky in the US.
Photo by Anna Webber/Getty Images for Flipper's Boogie Palace
Spirits giant Diageo has suggested the US government consider tougher rules of origin requirements in trade agreements as an alternative to tariffs, a letter to the US Trade Representative showed.
In the March 11 letter, Diageo, the world's top spirits maker caught in the crossfire of US president Donald Trump's effort to remake global trade, argued that new rules of origin could support his aims and benefit the industry.
Such rules could give preference to goods, including alcoholic drinks, in which all ingredients and subcomponents are substantially sourced within the US or via its key trading partners, Alden Schacher, vice president of government relations at Diageo North America wrote.
This would deepen US supply chains, prevent "foreign adversaries" from using US trade partners to circumvent tariffs and support the administration's policy objectives such as growing the US economy, said the letter, one of hundreds published by the USTR from firms and trade associations about tariffs.
Diageo's proposed rules of origin would require that plants or grains used in the production of imported alcohol come from the US or the territory of a strategic trade partner - any country that has a trade agreement with the US, such as Mexico and Canada.
The company also suggested that the rules ensure the distillation also occurs in the US or the territory of the same partner, with any barrels used in ageing also sourced from one of those places.
Diageo sells billions of dollars worth of tequila and Canadian whisky in the United States. Executives have warned Trump's threatened 25 per cent tariffs on Mexico and Canada could deal a $200 million hit to operating profit in the company's second half alone, before mitigation measures.
In the letter, Schacher wrote that trade in distilled spirits is largely reciprocal and therefore actions to address imbalances are not necessary.
Schacher pointed out that Diageo employs thousands of US workers, has 11 US manufacturing sites, and spends $650 million every year on US inputs including barrels, glass and cans.