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AB InBev 3Q revenue down 10 percent89 days ago
(AP:BRUSSELS) The world's largest brewer Anheuser-Busch InBev SA said third quarter revenue fell 10 percent over the year to $9.76 billion as beer sales shrank.
It sold 3.1 percent less beer, hit by weak U.S. and European markets where the economic downturn is holding back spending. A year ago, the two companies' revenues were $10.89 billion.
The company made a profit of $1.546 billion in the three months ended Sept. 30, which it said it could not compare to figures from Anheuser Busch and InBev before they combined late last year. For July-September 2008, InBev posted a profit of $690 million and AB $666.1 million
AB InBev CEO Carlos Brito said it was now "a much stronger company" after tackling debt with the $9.4 billion sell-off of U.S. theme parks and a central European unit.
Copyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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