Heineken reports lower annual profit

|About: Heineken N.V. ADR (HEINY)|By:, SA News Editor

Heineken (HINKY) saw its profit drop in 2013 as developing markets under-performed and regulatory actions hurt demand in key regions.

The global brewer reports organic beer volume fell 2.7% lower in 2013 amid what it calls a "fragile" economic environment.

For the year, profit fell to €1.58B ($2.6B) from €1.66B ($2.73B) in 2012 despite a 20 bps improvement in operating profit margin.