Name: Megabrewers beat forecasts, but fear lockdowns
Uploaded: 2020-10-28T19:55:24.000Z
Duration: 1 min 28 s
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bars around the world have been forced to close or find new ways of operating on that is showing up in earnings from the big brewers.

On Wednesday, the world's number two said that it did manage to beat forecasts in the June to September quarter.

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Heineken benefited from a surprise jump in sales in the Americas that helped it limiter, dropping volumes to 1.9% over the period when analysts had expected something about three times worse.

But profit margins took a hit as people shifted from bar to store purchases on the beer maker said the coming months could be very volatile.

With more national restrictions in prospect.

Germany, for one, is reportedly likely to close bars and restaurants again.

Now Heineken says it will cut costs and restructure its head and regional offices.

It aims to reduce personnel costs by 20%.

World number three Carlsberg reported numbers late the previous day it to beat forecasts thanks to strong sales in China and Russia.

As a result, the Danish firm said this year's profits would decline less than it previously expected, but volumes at bars and restaurants were down 1/5 on last year on the firm warned, off increasing pressure in coming quarters.

On a down day for broader markets, Carlsberg shares were still in the green.