Heineken, the world's second-largest brewer, delivered first-quarter beer sales ahead of expectations as people returned to pubs, bars and restaurants across Europe. Beer volumes rose 5.2 per cent on an organic basis. Analysts expected them to increase 4.6 per cent.

Chief executive Dolf van den Brink warned of "more macro-economic uncertainty" and "significant additional inflationary headwinds" in the months ahead and indicated the company may raise prices further.

Heineken's outlook sets a bullish tone for rivals Anheuser-Busch InBev NV and Carlsberg, which report results in coming weeks.

Heineken has previously said it expects an impairment of €400 million due to its retreat from Russia amid the war in Ukraine. Carlsberg, the largest brewer in Russia's $16 billion market, has also pledged to exit the country.– Reuters