Heineken raises profit forecast despite selling less beer

Heineken has raised its 2009 forecast despite selling less beer in the third quarter.

In the recession, drinkers are opting for cheaper alternatives.

However, Heineken has not cut its prices, preferring to cut costs instead. It closed breweries in France and Spain and plans to closer a further four breweries and malting plants.

Heineken expects mid double digit growth for this years profit.

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tags: Economy, Profits