Stella brewer upbeat despite fall in UK volumes
Stella Artois and Budweiser producer AB Inbev has reported a small decline in its UK beer volumes, although the world’s biggest brewer managed to more than double its first-quarter profit on a global scale.
The same period in 2010 was bogged down by financing costs, so even though the company’s beer volumes are broadly flat, the business is making more money.
In the UK, own beer volumes decreased 1.1%, which AB Inbev blamed partly on the late Easter. But it added that its “focus brands” – Budweiser, Beck’s and Stella Artois – all “outperformed the industry and delivered market share gains”.
Global net profit rose to $964 million in the three months to March 31, up from $475 million in the same period in 2010. Revenue grew 8.1% to $9 billion.