>Heineken's annual profit decreases 74%

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>This article is pretty deceiving. Revenues up 24% and profit way down?

If you look on the Heineken web site the story is that there were a lot of writeoffs of goodwill
“However, the exceptional economic circumstances required us to reduce the value of goodwill in Russia, our investment in India and in our pub portfolios in the UK. These non-cash exceptional charges, together with low profit contributions of new businesses and the related financing costs resulted in a substantially lower reported net profit.”

More fallout from the UK PUB business. Here is the link to Heineken

http://www.heinekeninternational.com/090218heinekennvfullyearresults2008.aspx

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