Close
Bonneville Phoenix Network
 KTAR News
 Arizona Sports
92.3 FM KTAR
Menu
Social
Latest News

Heineken sees growth in emerging markets in 2014

AMSTERDAM (AP) - Heineken NV says it expects higher sales volumes in 2014 as growth in emerging markets outweighs falling consumption in Europe. It also plans "modest" price hikes.

The Dutch brewer, however, stopped short of forecasting higher revenues for the year because weaker emerging market currencies will hurt its reported numbers. Developing markets account for about half its business.

The family-controlled company said it plans to increase profits this year by cutting costs and shedding an unspecified number of employees.

Heineken reported a 52 percent fall in net profit for the year 2013, to 1.36 billion euros ($1.85 billion), from 2.91 billion euros in 2012, when it booked a one-time gain of 1.49 billion euros on its Asian Pacific Breweries business. Revenues increased 1.3 percent to 21.3 billion euros.


(Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)
CenturyLink Give-A-Thon for PCH Give-A-Thon for PCH

Comments

comments powered by Disqus
Latest News