BELGIUM: AB Inbev sees profits amid low sales | Progresiv

Budweiser maker AB InBev has seen a slight profit in the first quarter of the year despite a decline in volume sales in the US. The brewing giant’s core profit rose by 11.1% on a like-for-like basis in the first quarter of the year to 3.97 billion dollars.

Its overall volumes dropped 1.2% driven by a severe 6% fall in sales recorded by US wholesalers which was partly due to the rise of craft beer which now equals Budweiser’s shipments 16 million barrels and also due to a sales drive last year to build inventories ahead of union negotiations.

However the losses were partly offset by a global volume growth of 4.6% in higher priced brands such as Corona and Stella Artois in markets, notably Brazil and China. (www.thedrinksbusiness.com)