Heineken's operating profit in Europe rises on price increases and cost-cutting 

Heineken shares slid over 6% as the brewer said its 2024 profit could fall significantly below analyst estimates.

Heineken beer volumes fell in Europe in 2023, but operating profit rose in the key division nonetheless, helped by price hikes and cost-cutting, the latest financial figures from the global brewing giant show. 

The brewer also said that following the concerns about inflationary costs and price increases in 2023, it was "cautious" about the year ahead, as it weighed economic and political risks around the world. It also signalled, however, that the strong cost pressures in 2023 had been easing in the last six months of the year.