AB InBev profit beats estimates on volume spikes

AB Inbev

Anheuser-Busch InBev, AB InBev, the world’s largest beer company said its profit for the first half of the year rose to $4.9 billion compared to $3.6 billion in the previous year.

AB InBev which owns a majority stake in Nigeria’s International Breweries Plc said it achieved its best quarterly volume performance in over five years with total growth of 2.1%, driven by strong performances in many of its key markets including Mexico, Brazil, Europe, South Africa, Nigeria, Australia and Colombia.

For the second quarter, AB InBev said its profit rose to $2.4 billion USD compared to $2.1 billion within the same period last year.

AB InBev has in the last three years invested over 200 million in its Nigerian expansion and also introducing its various global brands such as Budweiser into the market.