Connect with us

Hi, what are you looking for?

Capital Business
Capital Business

World

Heineken raises forecasts slightly

THE HAGUE, Oct 28 – Dutch brewing giant Heineken on Wednesday raised its 2009 profit forecasts slightly after a positive third quarter when sales held steady.

Heineken said it now expected "organic net profit growth to (be in) low double-digit for the full year 2009, versus a previous forecast of at least high single digit."

The company said this reflected a positive three months to September when operating profit showed a double-digit gain despite the adverse impact of currency changes.

The dollar has come under great pressure in recent months as investors seek higher returns elsewhere, with the euro rising some 20 percent against the US unit to spark concerns that eurozone exports could be hit.

Heineken said third quarter sales slipped 0.4 percent to 4.07 billion euros (6.04 billion dollars). In the first six months of the year, sales were up 11.5 percent from a year earlier to 7.15 billion euros.

However, first half profit was down 10.5 percent at 483 million euros.

Click to comment
Advertisement

More on Capital Business

Executive Lifestyle

NAIROBI, Kenya, Mar 12 – The country’s super wealthy individuals are increasing their holding of bonds, gold and cash, a new report by Knight...

Ask Kirubi

NAIROBI, Kenya, Mar 9 – Businessman and industrialist Dr. Chris Kirubi has urged members of the public to exercise extreme caution when making any...

Ask Kirubi

NAIROBI, Kenya, Mar 24 – Businessman and industrialist Dr. Chris Kirubi is set to own half of Centum Investment Company PLC, following a go-ahead...

Ask Kirubi

It is without a doubt that the COVID-19 pandemic has caught the whole world by surprise. Although its full impact is yet to be...

Headlines

NAIROBI, Kenya, Mar 18 – Commercial Banks have been ordered to provide relief to borrowers on their personal loans, with loans eligible from March...

Kenya

NAIROBI, Kenya, Jun17 – Kenya’s tea leaves manufacturer Kericho Gold, has been awarded the Superbrands Seal by Superbrands East Africa for their quality variety...

Coronavirus

NAIROBI, Kenya, Apr 13 – As the local telecommunications industry gears up to roll out 5G networks in the country, the Communications Authority of...

Coronavirus

NAIROBI, Kenya, Mar 22 – Airtel Kenya is offering free internet access for students in order to enable continued learning at home in the...