Budweiser Brewer AB Inbev Volumes Dragged by Weaker China Demand
By Michael Susin
Budweiser brewer Anheuser-Busch InBev said volumes for the second quarter fell, dragged by weaker demand in China.
The world's largest brewer said Thursday that volumes for the quarter decreased 0.8% on an organic basis from the same period last year, missing analysts' expectations of a 0.6% drop, based on consensus estimates provided by the company.
Volumes in China declined 10% due to weaker demand and adverse weather during the period, the maker of Stella Artois, Michelob Ultra and Busch Light said.
The company reported an underlying net profit--which strips out exceptional and other one-off items--of $1.81 billion compared with $1.45 billion the same quarter a year ago.
Write to Michael Susin at michael.susin@wsj.com
(END) Dow Jones Newswires
August 01, 2024 01:45 ET (05:45 GMT)
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