BRAZIL: AmBev enjoys Q2 net profit leap
AmBev has today posted a doubling of net profit in Q2. The brewer said that net profit increased in the three-month period to BRL265.1m (US$87.5m), from BRL128.5m a year earlier. The company credited the rise to price rises and stronger international revenue, which helped offset weaker beer sales in Brazil.
The company's consolidated EBITDA reached BRL735.1m in the quarter, a 33.4% increase compared to the same period last year.
Beer volume sales in its core home market fell by 7.3% year-on-year, however, when AmBev's bottom line was hit by unexpectedly high financial costs.
AmBev is expected to gain approval for its merger with Interbrew from shareholders at a meeting on 27 August.
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