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Wednesday, May 15, 2024

Beer demand suffering as price hikes take toll

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AMSTERDAM – Heineken NV said it is on track to hit its profit target this year, even as higher prices and economic uncertainty led drinkers in many parts of the world to pull back on premium beverage purchases.

The Amsterdam-based brewer kept its forecast of flat to 5% annual organic adjusted operating profit growth. The market had been concerned there could be a further downgrade after it reduced its growth target in July, blaming slowing demand —…

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