Brewing company Anheuser-Busch InBev (AB InBev) has announced that revenue grew by 3.6% in the third quarter, reaching $14,740 million.
This brings the group's total revenue for the first three quarters of the year to $41,844, representing growth of 4.1%.
"Our business continued to deliver solid results this quarter," the company said in a statement.
"Revenue grew by 3.6%, driven by revenue management and premiumisation initiatives enhanced by our three global brands’ performances, especially outside of their home markets."
Brand Growth
AB InBev says that its three global brands - Budweiser, Corona, and Stella Artois - saw combined revenue growth of 1.6% in the most recent quarter.
Budweiser revenues declined by 2.2% overall, but experienced 4.4% growth outside of the US, led by strong performance in Brazil, South Korea and Chile.
Meanwhile, Stella Artois saw 0.9% revenue growth, and Corona's revenue was up by 9.6%, with an increase of 11.2% seen outside of its home market of Mexico, including strong growth in China, Colombia and Ecuador.
Company Progress
The brewer says that its merger with SAB, which took place last October, continues to progress well, with synergies and cost savings of $336 million captured during the third quarter.
Earlier this month, AB InBev sold its 54.5% equity stake in Coca-Cola Beverages Africa to the Coca-Cola Company for $3.15 billion,
The company says that it expects to accelerate total revenue growth in its 2017 financial year, driven by solid growth of its global brands and strong commercial plans.
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Sarah Harford. Click subscribe to sign up to ESM: The European Supermarket Magazine.
