AB InBev sees UK volumes rise 3.9%
AB InBev, the world's largest brewer, has reported a 3.9% increase in UK volumes in the third quarter following double digit growth of its three flagship brands.
The brewer said that it had claimed a bigger share of the UK market between July and September driven by Stella Artois, Beck's and Budweiser, with new products Stella 4% and Beck's Vier also performing well.
Posting results this morning, the company said that globally third quarter volumes decreased 3.2%, with all regions except Latin America impacted by shrinking beer markets, although the fall was partly offset by price rises and cost cuts.
Net profit rose to $1.55bn (£935m) from $690m in 2008 and ebitda increased 11.9% to $3.5bn.
The company said that its balance sheet had been strengthened following several disposals including some central European operations and US theme parks, which bought in $9bn since the merger of Anheuser-Busch and InBev last year.
It said that paying off debt was still a priority and that it was "selectively evaluating non-core assets" that could be sold off.
AB InBev added that although demand trends remained soft, it forecast improved volume performance in the fourth quarter.
Stuart MacFarlane, InBev UK President, said: "We're very pleased with the results we achieved in the UK. Each of our three global flagship brands has posted double digit growth this quarter - a fantastic result, even more so in this challenging environment.
"We're pleased with the positive momentum we've built over the past five quarters, and will continue to invest in our focus brands growth."
