Dutch brewer Heineken has warned that a number of exceptional factors are hitting beer consumption is some of its markets.
It cited the slowdown in economic growth, the war in Iraq, bad weather in North America and parts of Europe, and the SARS outbreak.
As a result, Heineken said, sales volumes were lagging expectations in the first half of the year.
Heineken also said it was facing the effects of a stronger euro and higher pension costs.
But it said first half net profits would be at the same level as a year earlier, as the company had increased its market share.
