AmBev enjoyed strong beer sales in Brazil in Q1

AmBev enjoyed strong beer sales in Brazil in Q1

Strong beer sales in Brazil and northern Latin America drove a solid first quarter for AmBev, the division of Anheuser-Busch InBev.

AmBev today (5 May) reported net sales of BRL6.1bn (US$3.46bn) for the three months to the end of March, up 16.5% on a like-for-like basis against the same period of 2009. Without currency gains, sales rose by 8%.

Strong demand for beer in Brazil, as well as gains across Northern Latin America and Canada drove the brewer to an 11.6% rise in volume sales for the quarter. Soft drinks volumes rose by 2.6% on a like-for-like basis.

AmBev's results helped parent group Anheuser-Busch InBev to offset tough times for its beer divisions in Western Europe and the US during the three months.

AmBev net profits rose by 4% for the period, to BRL1.65bn versus BRL1.58bn a year earlier. However, group EBITDA fell by 1% to BRL2.8bn, due to higher costs and increased marketing spend in preparation for promoions around the FIFA World Cup.

To read the official release, click here.