HEIO Heineken Holdings

AMSTERDAM—Heineken NV on Wednesday posted a drop in first-quarter net profit but recorded a sharp rise in beer volumes thanks to strong sales in Vietnam and China.

Net profit was €265 million ($301 million) in the first three months of 2016, compared with €579 million in the same period last year, when results were lifted by a €375 million gain on the sale of Mexican packaging company Empaque.

Consolidated beer volumes rose 7% organically in the period, boosted by strong sales during the New Year celebrations in Vietnam and China and the earlier timing of Easter. Heineken said it also recorded good volume growth in the Americas and Europe.

The brewer disclosed its latest results in a trading update that didn't contain any revenue figures. The first quarter is seasonally less significant in terms of profit and volumes, it said.

Heineken reaffirmed its financial guidance for the year, but warned negative currency effects could hit full-year profit by as much as €80 million.

Write to Maarten van Tartwijk at maarten.vantartwijk@wsj.com

(END) Dow Jones Newswires

April 20, 2016 03:35 ET (07:35 GMT)

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