Hurricanes blow sales off course for world's top brewer
Hurricanes in the US slowed third-quarter sales for Anheuser-Busch InBev
Brussels - AFP
Hurricanes in the US slowed sales for Anheuser-Busch InBev, which makes Budweiser, Corona and Stella Artois beers, but the world's number one brewer still reported higher profits in its third quarter results on Thursday.
The Belgium-based giant, which completed a mega-takeover of rival SABMiller a year ago, said that despite major hurricanes in Texas and Florida battering US sales, it still expected a "strong finish" to the year.
Total shipment volumes declined 1.2 percent worldwide compared with the same quarter last year, led by a 6.1 percent decline in the United States, where hurricanes Harvey and Irma caused huge disruption to transport and distribution networks.
But profits were still up, at $2.58 billion (2.19 billion euros), almost double the $1.36 billion reported for the same period in 2016.
The company said the integration with SABMiller "continues to progress well, with synergies and cost savings of $336 million" during the third quarter.
But AB InBev shares made heavy weather on the Belgian stock exchange, shedding 2.23 percent to 100.75 euros.
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