BRAZIL: Domestic market proves key for AmBev
Brazil has once again proved the engine for growth at AmBev, which has reported a 12% rise in operating profit for its second quarter.
The InBev-owned unit has posted an 11.9% increase in EBITDA to BRL1.6bn (US$740.6m) for the three months to 30 June. Revenues rose 9% to BRL4.1bn.
AmBev, whose portfolio includes Brahma beer, dominates Brazil's beer market and once again saw earnings in the country leap. The brewer posted a 17.3% rise in EBITDA from its operations in Brazil and saw volumes there rise 4.4%.
AmBev's soft drinks business also performed well with an 8.6% rise in volumes leading to a 3.6% increase in profits.
The brewer's operations in the Southern Cone also contributed to growth. AmBev holds a 91% stake in Argentina's largest brewery, Quinsa, which also dominates beer markets in Uruguay, Paraguay and Bolivia. Earnings from the business rose 25.2% in US dollars.
In Canada, where AmBev owns the country's number two brewer Labatt, the brewer said only that profits were up 11.3% when converted into Canadian dollars.
InBev is set to announce its global interim results on 7 September.
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