AB InBev Net Profit Dips on Currency Factors
May 04 2016 - 2:04AM
Dow Jones News
By Natalia Drozdiak
BRUSSELS--Anheuser-Busch InBev NV on Wednesday said unfavorable
currency effects damaged net profit in the first quarter of the
year.
The Belgium-based brewer posted net profit of $844 million for
the quarter, down from $2.3 billion a year earlier.
The company said revenue totaled $9.4 billion in the quarter,
down from $10.45 billion the previous year and below analyst
expectations of $10.04 billion.
The beer company said it still plans to complete its $108
billion acquisition of beer rival SABMiller in the second half of
this year, in a bid to make the world's largest brewing
company.
It said it also still expects 2016 revenue to grow "organically"
ahead of inflation around the world.
Write to Natalia Drozdiak at natalia.drozdiak@wsj.com
(END) Dow Jones Newswires
May 04, 2016 01:49 ET (05:49 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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