AB stirs a mixed brew
Source: Agencies |
August 14, 2009, Friday
|
Print Edition
Print Edition
ANHEUSER Busch InBev said second-quarter profit rose 13 percent to US$1.1 billion, helped by sales of stakes in brewing companies but cautioned the recession was flattening beer consumption in key markets around the world.
The figure compared with a profit of US$850 million in the same period a year earlier.
AB InBev reported a 1.1 percent drop in global sales in the second quarter on Wednesday, with Carlos Brito, the company's chief executive, saying: "The beer industry ... is not immune to economic pressures."
For the first half of 2009, AB InBev recorded a net profit of US$1.92 billion, up from US$1.25 billion the year before.
The company credited that performance to its unrelenting drive to raise at least US$7 billion from sell-offs this year, US$1 billion in savings from merging the former InBev and Anheuser-Busch operations and shaving US$1 billion off total costs, and another US$500 million from US operations. During the first half, the company earned one-off gains of US$3.56 billion from asset sales.
The figure compared with a profit of US$850 million in the same period a year earlier.
AB InBev reported a 1.1 percent drop in global sales in the second quarter on Wednesday, with Carlos Brito, the company's chief executive, saying: "The beer industry ... is not immune to economic pressures."
For the first half of 2009, AB InBev recorded a net profit of US$1.92 billion, up from US$1.25 billion the year before.
The company credited that performance to its unrelenting drive to raise at least US$7 billion from sell-offs this year, US$1 billion in savings from merging the former InBev and Anheuser-Busch operations and shaving US$1 billion off total costs, and another US$500 million from US operations. During the first half, the company earned one-off gains of US$3.56 billion from asset sales.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
