Brewer AB InBev posts solid results ahead of merger deadline

30th October 2015, Comments 0 comments

The world's biggest brewer Anheuser-Busch InBev on Friday posted solid results ahead of deadline to finalise its blockbuster offer for London-based rival SABMiller.

AB InBev, the giant behind top lager brands like Budweiser and Stella Artois, said operating profit rose by 9.6 percent in the third quarter to $4.4 billion (four billion euros).

The strong performance beat analyst expectations, according to a survey by Bloomberg news service, and was driven by strong sales of its premium brands in US, Mexico, China and the UK.

"We are particularly pleased with the performance of our Global Brands which delivered double digit volume and revenue growth," the company said in a statement.

The push for the blockbuster tie-up with SABMiller is being fuelled by fears of declining beer sales in key markets as US and European drinkers abandon traditional brands for more local options.

But the company's premium brands had a bumper quarter. Sold volumes of AB InBev's three global brands grew by 11.5 percent in the quarter, with Budweiser up 11.5 percent, Corona up 11.1 percent and Stella Artois up 12.9 percent.

Based the solid quarter, the company raised that its forecast for the whole year, saying that sales would now grow above inflation in 2015.

AB InBev on Wednesday said it had agreed with SABMiller to extend its massive buyout offer by a week to allow for further discussions. The results statement made no significant update on the state of those talks.

The multinational -- based in Louvain, Belgium -- is currently rounding up financing to secure the deal.

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© 2015 AFP

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