AB InBev's core profit grows 10.5%

|By:, SA News Editor

Anheuser-Busch InBev's (BUD) Q3 EBITDA rose 10.5% to $4.66B and exceeded consensus of $4.54B, helped by higher selling prices and cost-cutting.

Net profit jumped 31% to $2.37B, reflecting the firm's $20B acquisition of Mexico's Grupo Modelo.

Comparable revenue increased 3% to $11.73B but missed consensus of $11.86B.

Volumes slipped 1.3% to 119.7 million hectoliters, in line with forecasts, although revenue per hectoliter increased 5.7%.

AB InBev's volumes in the key market of Brazil dropped 5%, and the company warned that due to high food inflation FY sales in the country will be at the lower end of a prior forecast of flat to a low single-digit percentage decline.

U.S. sales fell, although average prices and profit margins grew.

Budweiser's sales increased 8.1%.

Declared interim dividend of €0.60 a share. The shares will trade ex-coupon as of 13 November and dividends will be payable as from 18 November. The record date will be 15 November. (PR)