Heineken demand falls with profits ‘stagnant’
Heineken expects net profit before exceptional items and amortisation, and excluding acquisitions and currency swings to be “broadly in line” with the €1.58bn of 2011. The shares fell as much as 5.6%, the most in a year, as some analysts questioned whether it could meet that goal.
“The full-year guidance looks, quite honestly, pretty optimistic, particularly since western Europe isn’t going to get any better,” Melissa Earlam, an analyst at UBS in London, said.
