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Heineken N.V. pessimistic about its domestic growth, looks to overseas markets.

Following a report do first-half net income has fallen, Heineken N.V. reported that they don't expect to continue the growth posted in earnings for normal operations.

First-half net income fell 6.4%, to 220.1 million guilders ($118.6 million), due to a decline in sales and to a one-time gain that buoyed results in the year earlier period. The company also declared an unchanged interim dividend of 1.50 guilders (80 U.S. cents) a share.

For the remainder of the year, Heineken said it isn't particularly optimistic, saying it doesn't expect to continue the 11% growth it posted in earnings for normal operations.

"The standard segment of the beer market is falling in Europe due to the recession," a spokesperson said, adding that while the company will try to hold market share, it expects the volume of deliveries to fall.

Internationally, however, the company said that some growth is expected.

Heineken said that there is room to expand market share in the premium-beer market in Europe, the U.S. and Asia, with profit margins helped by continuing cost cutting.
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Publication:Modern Brewery Age
Date:Sep 13, 1993
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