Heineken Feels Heat from Economic Downturn

Imported beers have had a tough year in the United States, and Heineken was no exception. The Dutch brands took a hit, but the company's Mexican brands in the U.S. posted impressive growth. Like others in the industry, Heineken declined to give guidance for 2009 due to the economy and ensuing summer months. In all, Heineken NV posted a 74% fall in 2008 net profit, hit by lower-than-expected profits from new businesses, volume declines in key markets and net financing