Heineken results dampen the mood at Olympic party

IT'S HARD TO RUIN A PISS UP in a brewery but Heineken seems determined to try. Heineken may have enjoyed a huge captive market in the form of Olympic visitors but its 2012 sponsorship has failed to turn into increased profits. Despite being the only beer available to millions of Olympic visitors and following up with on-pack promotions, the company reported a drop in profits as margins were eaten away by rising costs. Heineken’s results look particularly flat when set against sector rivals who have rushed headlong into new and emerging markets in search of growth. Heineken’s dominance in Europe is proving a major drag on profits as domestic consumers tighten their belts in the face of economic gloom.