Trou­ble brew­ing

Daily Freeman (Kingston, NY) - - BUSINESS -

An­heuser-Busch InBev tanked Fri­day af­ter the Bel­gium-based brewer trimmed its sales out­look fol­low­ing poor re­sults in Brazil.

The brewer of Bud­weiser, Corona and Stella Ar­tois had fore­cast that net rev­enue would grow ahead of in­fla­tion. But the com­pany said in a state­ment Fri­day that “given the weak re­sults in Brazil, we now ex­pect growth in line with in­fla­tion.”

Beer vol­umes in Brazil fell by 4.1 per­cent in the third quar­ter, and by 2.5 per­cent in the United States com­pared to the same pe­riod last year.

The news comes a month af­ter share­hold­ers ap­proved AB Inbev’s $103 bil­lion takeover of SABMiller, which brews Fos­ters and Miller beer. The com­bined com­pany will con­trol al­most a third of the global beer mar­ket.

An­heuser-Busch shares fell 4 per­cent to $116.84 on Fri­day.

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