Heineken said it has seen signs of slowdown in demand for its beer in some European markets after its third-quarter sales rose by less than expected.
Heineken , the world's second-largest brewer by volume, on Monday cut its 2023 profit growth forecast after an economic slowdown in Vietnam depressed first-half earnings by more than expected.
The Dutch company, whose brands include Tiger and Sol, said it now expected growth in operating profit before one-offs this year to be between zero and a mid single-digit percentage.
Heineken said its results in Asia had been affected by an economic slowdown, notably in Vietnam, one of the company's largest markets, which is facing reduced global demand for its exports.
Operating profit reduced by about a third.
Persons:
Heineken
Organizations:
Heineken, Tiger
Locations:
Vietnam, Asia