Stella brewer AB-InBev UK beer volumes fall 9.7%

The company cited "weak industry performance, driven by higher unemployment levels than last year", the rise in VAT and "competitive activity in the off-trade".
Stella Artois volumes were down in the UK, although Stella Artois Cidre "continues to exceed our expectations". Beck's volumes were also "softer" in the UK, which contributed towards a 4.2% global decline.
However, Budweiser saw double digit volume growth in the UK, led by the 4.3% ABV Budweiser Draught in the On-trade, the roll-out of a new global can design and new secondary packaging to support the FA Cup sponsorship.
Internationally, AB-InBev reported revenue growth of 6.2% in the quarter to $9.332bn, on volumes up 1.8% and own beer volumes up 1.4% and non-beer volumes up 6.3%. Volumes were driven by its "Focus Brands" - Budweiser, Stella Artois and Beck's - which saw volumes rise 3.5%.
EBITDA increased 7.4% organically to $3.552bn. Normalised earnings per share grew 43.8% to $1.05.