'Cheers': AB InBev profits nearly back to pre-pandemic level
-
Pro-Russian disinformation makes its Bluesky debut
-
UK gas reserves 'concerningly low', warns biggest supplier
-
2024 warmest year on record for mainland US: agency
-
Meta policy reversal puts question mark on future of fact-checking
-
Meta policy reversal puts question mark on furure of fact-checking
-
Strong US jobs report sends stocks sliding, dollar rising
-
US hiring beats expectations in December to cap solid year
-
UK gas reserves 'concerningly low': Biggest supplier
-
Global stocks mostly fall before US jobs data
-
Ubisoft: the 'Assassin's Creed' maker targeted by suitors
-
Stock markets drift lower as US jobs data looms
-
Pakistan flight departs for Paris after EU ban lifted
-
Nobel laureate Malala Yousafzai to visit native Pakistan for girls' summit
-
AI comes down from the cloud as chips get smarter
-
Tajikistan bets on giant dam to solve electricity crisis
-
Uruguay bucks 2024 global warming trend
-
Last 2 years crossed 1.5C global warming limit: EU monitor
-
Japan 'poop master' gives back to nature
-
US Supreme Court to hear TikTok ban case
-
US Fed's December rate cut should be its last for now: official
-
Paris Hilton among celebrities to lose homes in LA fires
-
Airbus boosts plane deliveries in 2024
-
Ubisoft reviews restructuring options, postpones new Assassin's Creed
-
Lamborghini sets new sales record amidst hybrid push
-
Lebanon army chief Aoun becomes president after two-year vacancy
-
US emissions stagnated in 2024, challenging climate goals: study
-
Lebanon army chief short of required majority in first round of president vote
-
Global stock markets mixed tracking US rates outlook
-
Lebanon meets to finally elect president after two-year vacancy
-
Celebrities flee Los Angeles fires, lose houses as Hollywood events scrapped
-
Japan startup hopeful ahead of second moon launch
-
Ukraine allies to hold last defence meet before Trump takes office
-
Myanmar military adopts anti-junta fighters' drone tactics
-
CES tech looks to help world's aging population
-
Rubber tappers forge sustainable future in Amazon
-
US astronauts upbeat seven months into eight-day mission
-
Extreme weather, suburban sprawl fuel LA's wildfires
-
Political chess or true beliefs? Zuckerberg's surprise Trump pivot
-
US Fed officials concerned over 'stalled' disinflation, tariffs: minutes
-
Celebrities flee Los Angeles fires as Hollywood events scrapped
-
Several US Fed officials concerned over 'stalled' disinflation: minutes
-
US tech titans ramp up pressure on EU
-
'Wicked' tops SAG Awards nominations
-
Safe from looting, Damascus museum reopens a month after Assad's fall
-
Award-winning migrant actor earns visa to stay in France -- as a mechanic
-
Celebrities forced to flee Los Angeles blazes
-
US tariff and inflation fears rattle global markets
-
US private sector hiring undershoots expectations: ADP
-
US tariffs unlikely to have 'significant' inflation impact: Fed official
-
Lebanon leaders in talks for new bid to elect president
NYSE - LSE
| CMSC | 0.38% | 23.188 | $ | |
| CMSD | -0.75% | 23.226 | $ | |
| RIO | 0.8% | 59.1 | $ | |
| RYCEF | 0.28% | 7.22 | $ | |
| SCS | -2.45% | 11.03 | $ | |
| NGG | -2.75% | 56.43 | $ | |
| BCC | -1.8% | 115.32 | $ | |
| RELX | -0.5% | 46.535 | $ | |
| RBGPF | -4.54% | 59.31 | $ | |
| VOD | -1.5% | 8.089 | $ | |
| GSK | -1.38% | 33.29 | $ | |
| BTI | -1.17% | 36.315 | $ | |
| BCE | -2.67% | 23.015 | $ | |
| JRI | -0.49% | 12.16 | $ | |
| AZN | 1.13% | 67.34 | $ | |
| BP | 0.46% | 31.265 | $ |
'Cheers': AB InBev profits nearly back to pre-pandemic level
The world's largest brewer AB InBev said Thursday that its profits rose 50 percent last year, nearing its level before the Covid-19 pandemic forced shut pubs and bars worldwide.
The group, which includes the Budweiser, Stella Artois and Corona brands, saw its net profit hit $5.7 billion in 2021 as the volume of beer it sold rose 9.6 percent to 582 million hectolitres, it said in a statement.
Revenues for the Belgian-Brazilian industry behemoth increased 15.6 percent to $54.3 billion.
Its core profit -- earnings before interest, taxes, depreciation, and amortisation (EBITDA) -- rose by 11.8 percent to $19.2 billion.
"Compared to pre-pandemic levels, we grew top-line by more than 10 percent and nearly recovered EBITDA," said the statement from the brewer, which is based in the Belgian city of Leuven.
AB InBev, which has more than two billion consumers of its drinks in 150 countries, expects EBITDA to grow between four to eight percent this year.
CEO Michel Doukeris said "relentless execution of our strategy drove continued momentum."
"This year was an important step in our journey to create a future with more cheers," he said in a statement.
It also continued to reduce the massive debt that remains from buying out its biggest rival SABMiller in 2016.
Beer consumption plummeted in 2020 and last year as lockdown measures were imposed throughout the world to contain the coronavirus.
M.Davis--CPN