Shares in Anheuser-Busch InBev, the world’s largest brewer, fell by as much as 4% in early trading yesterday (4 March) as the firm’s full-year profits fell short of analyst estimates.
The brewer yesterday reported a 16.6% rise in underlying full-year profits, but the brewing giant echoed rivals by warning that beer markets are expected to remain weak in 2010.
EBITDA reached $13bn for the 12 months to the end of December, compared to equivalent combined earnings of $12bn for the separate InBev and A-B businesses in 2008. In the fourth quarter, underlying profits rose to $3.11bn, excluding one-time charges, from $2.81bn a year earlier. That was less than the $3.35bn median estimate of ten analysts in a Bloomberg survey.
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