Heineken Profit Falls As Sales Increase
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The Dutch brewer Heineken NV reported its profit fell 27 percent due in part to the weaker dollar despite a rise in sales in the first half of the year.
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Scottish and Newcastle said Thursday it has rejected an improved bid from Danish group Carlsberg and Dutch peer Heineken that was worth about 7.6 billion pounds (10.1 billion euros, 14.8 billion dollars).
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The Coca-Cola Company said yesterday that profit fell 22 percent after its largest bottler wrote down the value of its North American unit on reduced soda sales and higher raw material costs.
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Ketchup maker H.J. Heinz Co.  on Thursday posted lower quarterly profit, hurt by a higher tax rate.
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Cadbury Schweppes, the world's biggest maker of sweets and chocolate, said on Tuesday that net profits plunged by 65 percent last year when results were skewed by the 2006 sale of its Europe Beverages unit.
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De Beers, the world's biggest diamond company, said Friday its 2007 sales fell three percent to 6.84 billion dollars (4.71 billion euros) and flagged a "high level of uncertainty" about its business this year.
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The Dutch brewer Heineken said its first-half net profit had fallen by 27 percent to 293 million euros (355 million dollars) owing to adverse exchange rates.
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Unilever, the consumer products giant, said today that profits had slipped during the third quarter - as had sales of its top 400 brands.
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DuPont Co.'s  second-quarter  profit fell as price hikes for its products failed to offset  increases in energy costs, the No. 2 U.S. chemicals maker said  on Tuesday.
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Anheuser-Busch Cos. Inc.  said on Tuesday it expects its international beer operations to post lower profit this year, hurt by a U.K. shift in sales from bars and restaurants to less profitable sales through retailers.
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Wine and spirits company Constellation Brands Inc.  said on Thursday that quarterly profit fell sharply, hurt by a plan to cut the amount of wine it ships to U.S. distributors and lower results from its British business.
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Wine producer Constellation Brands Inc. said Thursday its fiscal first-quarter profit fell 64 percent, as it reduced distributor wine inventories in the United States and posted softer results from its United Kingdom operations.
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Coca-Cola Co.  on Thursday reported a 24 percent drop in quarterly net income due to weak sales of its soft drinks, juices and bottled waters in Germany and other key markets.
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"This is not about profit, it's about cost increase"  According to a government report released Tuesday, the amount of beer sold in Germany fell to the lowest sales figure since 1993 - dropping by 2.7 percent in 2007 to 22 billion pints, down 612 million pints ... via SF Gate
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Net profit dropped at the consumer products maker to 721 million euros ($1.04 billion) in the last three months of 2007, from 2.03 billion euros a year earlier.
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The nationâs biggest food and beverage maker said net income fell to $585 million in the fourth quarter on higher dairy prices and one-time costs.
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Diageo, the worldâs largest producer and distributor of alcoholic drinks, reported a 23 percent decline in first-half profit but raised its full-year forecast for profit growth from existing operations. The company, which is based in London, announced a Â£100 million ($195.6 million) expansion of its Scotch whiskey operations in anticipation of continued long-term demand in emerging markets. Diageo said profit fell to Â£895 million ($1.75 billion) in the six months ended Dec. 31, from Â£1.17 billion a year earlier. The company said profit excluding one-time items was up 4 percent, to Â£1.31 billion, and it raised its forecast for profit growth this year to 8 percent from 7 percent.