Heineken upgrades profits forecast

HEINEKEN has marginally upgraded its full-year profit forecast for 2009on the back of a more stable-than-expected third quarter.

The Dutch brewing giant — which owns the Murphy’s and Beamish stout brands in Ireland — said that group revenue was down by 0.4%, year-on-year, at €4.07 billion for the three-months up to end of September.

Earnings before interest and tax (EBIT) had double digit growth while cost savings were delivered via the closures of four breweries in France and Spain (a further four are due to close in Russia, Finland and Britain).