Dear Client: This morning Heineken reported Q1 results. Group beer volume grew by 2.2% organically, "led primarily by positive growth momentum in Asia Pacific and the Americas." Group revenue was up 2.2%. In the Americas, consolidated revenue was up 6.8% organically, driven by 5.4% total volume growth and higher revenue per hectolitre growth of 2.2%. Group beer volume was up almost 6% organically in the quarter, partially due to positive volumes in the U.S., where both sales and depletions were
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