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Brewer AB InBev cheers best quarter of the year
Business and Economy

Brewer AB InBev cheers best quarter of the year

by  AFP 1 min read
AB InBev said it continues to see strong consumer demand despite inflation
AB InBev said it continues to see strong consumer demand despite inflation. Photo: John THYS / AFP/File
Source: AFP

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The world's top brewer AB InBev said Thursday that it enjoyed its best quarter of the year as sales volumes rose, triggering a jump in profits.

While surging inflation has been putting pressure on consumers everywhere, the maker of Budweiser and Corona beers still managed to boost its sales volumes in the July-September quarter.

The 3.7-percent volume growth compared to the same period last year helped drive a 12.1-percent increase in sales revenue to $15.09 billion.

The company called it the "best quarterly volume performance this year".

Net profit soared 62 percent to $1.63 billion.

"We continue to see strong consumer demand for our portfolio and a resilient beer category as we navigate the dynamic operating environment," chief executive Michel Doukeris said in a statement.

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The Belgium-headquartered company, which also makes Beck's and Stella Artois, boosted the lower end of its annual earnings outlook.

It now expects 2022 operating profits "to grow between 6-8 percent".

Sales revenue should grow at a faster rate "from a healthy combination of volume and price" increases, it added.

Source: AFP

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