30 April, 2004

Netherlands: Heineken is on course for further organic profit growth going forward, according to the company’s chief executive. Speaking at the company’s annual shareholder meeting yesterday, Anthony Ruys reiterated that he sees organic growth this year, according to Just-Drinks.

Ruys warned, however, that the Dutch brewer’s earnings this year remain under pressure from negative currency effects. “The negative currency effects can’t have been fully compensated by the positive effects from acquisitions in 2004,” he said. Heineken has already warned that it expects its profit after tax but before goodwill will fall this year due to currency fluctuations.

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