Global brewing giant Anheuser-Busch InBev (AB InBev) has posted revenue growth of 4.7% in the first quarter of its financial year.
AB InBev, known for its brands Corona, Stella Artois and Budweiser, attributed its growth to the three global brand’s performance across Mexico, Brazil and Argentina.
The three brands delivered revenue growth of 7.9% and a 12.2% growth outside of their respective home markets.
Corona led the charge with revenues soaring by 25.1% overall, with a 40.3% growth outside of Mexico, mainly due to a surge in China and Western Europe. Stella Artois revenues grew by 12.3% thanks to good performances in Argentina and the UK.
Budweiser revenues declined slightly by 1.3% in the first quarter, on the back of a weak performance in the US market - usually its biggest market. However, outside of its home market Budweiser saw revenues grow by 2.5% due to strong growth in Brazil, Paraguay, India and South Korea.
Ab InBev added that it is not worried over Budweiser’s performance, as it is the global sponsor of the upcoming World Cup.
In a statement, the company said, ‘We have many exciting plans in place to activate Budweiser around this platform in existing and new markets driving further awareness, penetration and ultimately brand preference.’
Ab InBev admitted that the first quarter of this year was slightly better than anticipated, but that it still expects accelerated growth across all segments for the remainder of the year, ‘especially in the second half’, it added.
© 2018 Checkout – your source for the latest Irish retail news. Article by Aidan O’Sullivan. Click subscribe to sign up for the Checkout print edition.