Asset sale helps Heineken 1H profit

(AP) Heineken NV says first half profits rose thanks to the sale of a brewery in the Dominican Republic, as higher costs ate into operating profits but the Dutch brewer continued to grow sales and market share.

Heineken, which reports earnings twice a year, said net profit was 783 million ($976 million), up from 605 million in the same period a year ago, assisted by the 131 million gain from the sale of the brewery. Sales rose 5 percent to 8.78 billion, which Heineken said was due to a mix of volume growth, higher selling prices and acquisitions.

Chief Executive Jean-Franois van Boxmeer said Heineken is "looking forward" to integrating Tiger beer owner Asian Pacific Breweries, though a struggle for control over the company is ongoing.