Brewing giant InBev profits soar
Fin24 - May 2nd 2012, 07:36
Brussels - The world's leading brewer Anheuser-Busch InBev, maker of Budweiser, Beck's and Stella Artois, posted on Monday a 75% jump in first quarter net profit to $1.69bn.
The Belgium-based company attributed the increase to a strong operating performance, lower net finance costs and a lower effective tax rate, one year after recording profits of $964m over the same period.
The first quarter 2012 result was well above the $1.39bn forecast by analysts polled by Dow Jones Newswires.
AB InBev recorded a 6.2% rise in turnover to $9.33bn in the first quarter, "driven by good performances" in North America, Latin America and the Asia Pacific region, the company said in an earnings statement.
The company's three global brands, Budweiser, Stella Artois and Beck's, performed well with growth of 4.8%.
Budweiser was stable in the United States but the beer enjoyed another quarter of double digit growth by volume in China.
In Canada, Budweiser gained market share as it builds "a strong association with hockey," the national sport.
The company, created in 2008 with the merger of Belgian-Brazilian brewer InBev and US company Anheuser-Busch, kept its 2012 outlook unchanged from its last statement last month.
"Momentum in our US business continues, supported by a solid commercial plan, a healthy innovation pipeline and good revenue ... performance," it said.
Russia to raise minimum vodka prices
03/12/2013 - 08:16
Moscow - Russia plans to raise minimum vodka prices next year as it seeks to reduce consumption of alcohol, despite risks that drinkers will resort instead to cheaper illegal liquor.
Johnnie Walker maker steps further into Africa
05/11/2013 - 08:17
London - Diageo, the world's biggest spirits group which has a presence in SA, should see sales growth in Africa accelerate as it expands into new markets like Ethiopia and Angola and as rising incomes enable traditional beer drinkers to try spirits, it has said
Foreign buyers drive demand for EABL shares
21/06/2013 - 10:12
The Nairobi All Share edged 0.13 points lower to close at 126.68.The All Share has posted a +33.544% return in 2013 and sits 1.745% beneath an all time high reached last month.
Carbon footprints for five beverage categories released by BIER
24/05/2013 - 15:37
n an effort to accelerate understanding of beverage sector impacts on climate change and identify reduction priorities for greenhouse gas emissions, the Beverage Industry Environmental Roundtable (BIER) has published its research on carbon footprints for five beverage categories, including beer, bottled water, carbonated soft drink, spirits and wine.
Anheuser-Busch abandons plans to buy Budvar
20/05/2013 - 10:33
Prague - Brewing giant Anheuser-Busch InBev says it no longer has plans to acquire Czech brewer Budejovicky Budvar, with whom it has been fighting a long legal battle over the use of the “Budweiser” brand.