Profit warning issued by Heineken

<p>Heineken has issued a profit warning.</p>

A drop in sales in various parts of the world has forced Heineken to issue a profit warning.

The company has seen sales fall in Brazil, parts of Africa and Europe and as a result said profits are now likely to decrease in the "low single-digits", rather than stay "broadly in line" with last year's figure.

Nigeria, Egypt and the Democratic Republic of Congo are among the African countries where the firm has experienced problems in the last few months.

The company is the largest seller of beer in Europe, but has seen sales stagnate in nations including Russia, Romania and Greece.

Chief executive at Heineken Jean-François van Boxmeer explained sales are strong in western Europe, but claimed the economic climate remains "challenging".

He said: "Looking forward, we remain confident that our broad geographic spread and strong brand portfolio will continue to support long-term growth for Heineken."

The share price of Heineken is slightly down this morning (October 23rd) on the back of the profit warning issued by the company. At 08:23 BST, its stocks were trading 0.36 per cent lower.

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