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Heineken cuts 2013 profit forecast after weak quarter

Wednesday, 23 Oct 2013 | 2:37 AM ET
Source: Heineken

Heineken, the world's third largest brewer, reduced its full-year profit guidance on Wednesday after beer sales in eastern European dropped sharply and slipped in Brazil and some African countries.

The group, which brews Europe's best-selling Heineken lager, Sol, Tiger and Stongbow cider, said it now expected its net profit before one-offs to fall by a low single-digit percentage this year, having previously forecast little change.

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