Beer taps open on AB InBev's profits
In Brussels AB InBev shares were up some 5.6%, as the company reported a quarterly profit to June of US$3.9bn, 5.8% higher than the same period last year.
Forecasts from analysts polled by Dow Jones Newswires put operating profit at US$3.8bn, with this measure seen as most representative of the company's performance.
"The increase in profits reflected higher margins in the Americas and the Asia-Pacific region," AB InBev said.
Second-quarter sales were up 3.9% at US$10.6bn, beating analyst estimates for US$10.4bn.
Beer sales by volume were down 1.2 percent. Net profits excluding exceptional items rose to US$1.94bn from US$1.5bn a year earlier.
Including the full acquisition of Mexico's Grupo Modelo for US$20bn, net profit came in at US$7.5bn.
AB InBev was formed in 2008 through the merger of Belgian-Brazilian group InBev and US brewing giant Anheuser-Busch. It counts some of the world's best selling beers such as Budweiser and Stella in its protfolio.
Source: AFP via I-Net Bridge
Source: I-Net Bridge
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