AB InBev Sees Flat Year for Beer in 2010
May 6, 2010
Anheuser-Busch InBev SA, the world''s largest brewer and maker of Budweiser, said its first-quarter profit fell 34 percent to $475 million as global beer sales remained stagnant and were not forecast to rebound in 2010, according to the Associated Press. AB InBev sold 0.8 percent more beer and soft drinks in the first quarter and said an expected improvement in profitability would be delayed until the second half because of lower-than-expected sales and higher marketing expenses. The company, based in Leuven, Belgium, made a $716 million profit in the same period last year. Sluggish beer sales mirrored those of rival Molson Coors Brewing Co., which said its volume slumped in the first three months of the year as drinkers in developed markets like Britain and the U.S, worried about the economy, continued to drink less beer.