AnMaster.com

Alexkid

China sales boost AB InBev profit
GABRIELE STEINHAUSER
(The Associated Press)

06:24:48AM (DST) 8.11.11.

BRUSSELS (AP) — The world's largest brewer Anheuser-Busch InBev NV said Thursday that second-quarter profits rose by more than a quarter as higher sales in China made up for declining demand in the U.S. and Brazil.

The Asian-Pacific region, led my China, is now AB InBev's third biggest market, cushioning the brewer from difficult economic conditions in its traditional sales bases.

Beer volumes in China, where AB InBev is pushing its Budweiser as well as Harbin and Sedrin brands, rose 12 percent in the second quarter, compared with a year earlier.

The strong performance in China helped swell the company's net profit to $1.45 billion from $1.15 billion, while revenue increased 8.5 percent to $9.52 billion from $9.17 billion.

Profit was also lifted by lower expenses on tax and financing and the weakness of the dollar, since AB InBev generates much of its sales in currencies other than the dollar.

Overall, the results and the company's outlook, which predicted growing volumes in the second half, were in line with expectations, said Wim Hoste, analyst with KBC Securities.

AB InBev's shares nevertheless dropped 1.5 percent in early trading.

The Leuven, Belgium-based company said it managed to increase sales volumes compared to last year, even though the year-earlier quarter was boosted by the soccer Wold Cup.

However, the sharp sales growth in China, which Finance Chief Felipe Dutra called "an exciting and growing market," masked volume declines in the U.S. and Brazil.

---------------------------------------------------------------------
Pour a cold one for me !

__________________
Yeah...Do That.