Markets News

AB InBev beer sales recover, but interim dividend scrapped

BRUSSELS, Oct 29 (Reuters) - Anheuser-Busch InBev, the world’s largest brewer, reported a surprise increase in beer sales in the third quarter, although profits dipped and its interim dividend payment was scrapped due to the COVID-19 pandemic.

The maker of Budweiser, Stella Artois and Corona lagers said on Thursday its overall beer and soft drink volumes rose by 1.9% to drive revenues up 4.0%, against consensus expectations of a 4% decline.

Core profit (earnings before interest, tax, depreciation and amortisation) dipped 0.8%, a far milder decline than the average forecast of a 9.3% drop in a company-compiled poll. (Reporting by Philip Blenkinsop Editing by Shri Navaratnam)