When Heineken NV issued its earning reports on Wednesday, figures showed profit dipping 17 percent in the first half of the year. The company blamed the drop in profit on several variables, including slowing growth in developing countries. The company's chief executive Jean Francois van Boxmeer said in a statement,
"Although the volume trends have improved in July with the warm summer weather in Europe, economic conditions in several of our core markets continue to constrain consumer spending."