Budweiser maker InBev reports lower 4Q profit

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Associated Press

Posted on February 27, 2013 at 3:02 AM

Updated Wednesday, Feb 27 at 3:34 AM

AMSTERDAM (AP) — Anheuser-Busch InBev NV, the world's largest brewer, says its profits fell 4.9 percent in the fourth quarter, due mostly to losses on foreign exchange rates.

Net profit was $1.76 billion (€1.35 billion), down from $1.85 billion in the same period a year ago. But revenues rose 8.8 percent to $10.3 billion, and operating profit rose 10.7 percent, the company said.

The Leuven, Belgium-based maker of Budweiser, Bud Light, Stella Artois and Beck's said it expects weak first quarter volumes in the United States, its most profitable market, as consumers there have less pocket money and weather is worse than a year ago.

It also expects "softness" in Brazil, where it has a 68.5 percent market share with brands Skol, Brahma and Antarctica, due to an early carnival and wet weather.

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