BRAZIL: AmBev toasts strong Q3
AmBev has posted a healthy rise in net profit for its third quarter.
The Brazil-based unit of brewing giant InBev, announced today (9 November) that net profit for the three-month period was up by 21.8% year-on-year, coming in at BRL486.1m (US$226m). The increase came on the back of a 10.9% climb in net revenues, to BRL4.33bn.
Earnings before interest, taxes, depreciation and amortisation (EBITDA) grew by 18% in total to BRL1.82bn.
The results covered the Brazilian business, Hispanic Latin America and Labatt in North America.
Separately today, Inbev confirmed that AmBev is try to purchase the remaining shares it does not yet own in Latin American unit Quinsa. AmBev indirectly owns approximately 97% of the voting interest and approximately 91% of the economic interest in Quinsa.
InBev UK has announced a series of live music and art-focused concerts across the UK to promote the Beck brand to its core audience....
Schincariol has completed its purchase of local craft brewer Baden Baden, according to reports in Brazil....
Anheuser-Busch has posted a steady start to its year so far. The US-based brewer yesterday (25 April) reported a 3.7% year-on-year lift in Q1 net income, which hit US$518m....
InBev is continuing to consider possible acquisitions in Latin America....
Beijing Yanjing Brewery has posted a significant rise in profits in its first quarter report....
InBev has said that it has "no plans" to restart the tender for the outstanding shares in Argentina-based brewer Quinsa....
AmBev has finally conceded defeat in its attempts to buy the remaining shares in Argentina-based brewer Quinsa....
Three brewers have been slapped with fines totalling over EUR270m (US$367.5m) after being found guilty of cartel activities in Holland....
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