AB InBev, the brewer of Budweiser, Stella Artois and Corona, reported higher profit in the third quarter despite lower beer volumes as hurricanes hit the US market.
The Belgium-based group reported earnings before interest, tax, depreciation and amortisation rose 13.8 per cent in the third quarter to $5.73bn, in line with a median forecast compiled by Reuters of $5.76bn. Revenue grew 3.6 per cent for the period.
Total volumes dipped 1.2 per cent in the third quarter with beer volumes down 1.5 per cent, AB InBev said, as shipment volumes in the US softened in the wake of hurricanes in Texas and Florida.
AB InBev reported synergies and cost savings of $336m in the period following its merger with SAB Miller a year ago. It said it had upgraded its synergy guidance by $300m to $3.2bn by October 2020.
The company expects total revenue growth to accelerate in the 2017 financial year on solid growth in its global brands.