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    Beer taps open on AB InBev's profits

    BRUSSELS, BELGIUM: The world's largest brewer AB InBev reported on Wednesday (31 July) better-than-expected second-quarter results, sending its shares price sharply as it benefited from its acquisition of the Corona beer brand in Mexico.
    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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