American Marconi Wireless News - Brewer AB InBev cheers best quarter of the year

NYSE - LSE

BCC	0.83%	93.47	$
BCE	1.91%	22.04	$
AZN	0.8%	67.59	$
GSK	1.56%	35.93	$
SCS	0.51%	9.76	$
NGG	0.87%	72.11	$
RYCEF	-1.5%	9.36	$
RBGPF	100%	63.59	$
JRI	1.29%	12.4	$
CMSD	0.18%	21.96	$
CMSC	0.18%	21.82	$
RELX	1.92%	52.2	$
RIO	1.74%	58.17	$
VOD	1.5%	9.31	$
BTI	1.27%	42.37	$
BP	2.33%	28.32	$

Brewer AB InBev cheers best quarter of the year / Photo: John THYS - AFP/File

Brewer AB InBev cheers best quarter of the year

BOULEVARD 27.10.2022

The world's top brewer AB InBev said Thursday that it enjoyed its best quarter of the year as sales volumes rose, triggering a jump in profits.

Text size:

While surging inflation has been putting pressure on consumers everywhere, the maker of Budweiser and Corona beers still managed to boost its sales volumes in the July-September quarter.

The 3.7-percent volume growth compared to the same period last year helped drive a 12.1-percent increase in sales revenue to $15.09 billion.

The company called it the "best quarterly volume performance this year".

Net profit soared 62 percent to $1.63 billion.

"We continue to see strong consumer demand for our portfolio and a resilient beer category as we navigate the dynamic operating environment," chief executive Michel Doukeris said in a statement.

The Belgium-headquartered company, which also makes Beck's and Stella Artois, boosted the lower end of its annual earnings outlook.

It now expects 2022 operating profits "to grow between 6-8 percent".

Sales revenue should grow at a faster rate "from a healthy combination of volume and price" increases, it added.

O.M.Souza--AMWN

American Marconi Wireless News - Brewer AB InBev cheers best quarter of the year

Brewer AB InBev cheers best quarter of the year

Featured

Russia and Ukraine accuse each other of breaching Easter truce

Pope wishes 'Happy Easter' to faithful in appearance at St Peter's Square

Exec linked to Bangkok building collapse arrested

Zelensky says Russian attacks ongoing despite Putin's Easter truce