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News > International
Heineken brews up profit
March 1, 2001: 3:23 a.m. ET

Dutch brewer sees increase in 2001 profit, 2000 profit up 20 percent
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LONDON (CNN) - Heineken, Europe's biggest brewer, said on Thursday it is banking on the power of its key brand, Amstel, to increase profit in 2001.

The Dutch company made the prediction as it reported a 20 percent jump in 2000 net profit to graphic621 million ($573 million), or graphic1.98 a share, from graphic516 million, or graphic1.65 a share, a year ago.

Amsterdam-based Heineken, which brews global brands Amstel and Murphy's Irish Stout, put the surge in profit down to 15 percent increase in sales of Heineken beer, acquisitions and a favorable euro exchange rate.

In 2000, the global beer market grew by 2.5 percent, while sales of Heineken brand rose by 5.9 percent.

"Heineken expects a further rise in net profit for 20001 and remains positive with regard to the long-term profit outlook," the company said.

The brewer also said it planned to split its shares, with four existing shares exchanged for five new ones.

Heineken shares were flat at graphic60 in early Amsterdam trading off its year high of graphic69.80 in November, but up from graphic46 a year ago. graphic




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