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Soaring operational costs and a greater competition between brands have battered the UK’s brewery industry with the number of beer factories going under tripling over the past year. The number of breweries which have become insolvent has risen from 15 to 45 over the last year, new figures out from audit, tax and advisory firm [...]
Budweiser owner Anheuser-Busch InBev has said it will cut off supplies of its beer to Russia by selling its stake in a joint venture to a Turkish partner. The move will trigger a $1.1bn impairment charge in the world’s largest brewer’s first quarter results. The Belgian brewer revealed it was in “active discussions” about selling [...]
Qatar World Cup officials have launched a stunning and abrupt U-turn, banning alcohol in its stadiums. The tiny Gulf kingdom is set to outlaw the consumption of beer in grounds, owing to its strict Muslim laws which prohibit alcohol. It had been promised before the tournament there would be areas where fans could drink, with [...]
Budweiser maker Anheuser-Busch InBev (AB InBev) said drinkers are swallowing higher prices and bought more beer in the first quarter. After posting higher than expected earnings, the Belgian brewer reiterated an EBITDA growth outlook of between four and eight per cent for the full year. Consumers had bought 2.8 more drinks by volume in the [...]
Budweiser will have “little difficulty” proving there has been “breach of contract” after Qatar banned alcohol in stadiums for the World Cup, but top lawyers say it may not lead to a massive legal row. The beer brand’s owners AB InBev were left in a state of shock this morning after Qatar announced booze would [...]
Some global companies are still operating in Russia more than a year on from the country’s invasion of Ukraine. Firms were quick to respond to the full-scale war, which broke out last February, with some saying they would quit Russia immediately and others curtailing imports or new investment. Billions of pounds of factories, energy holdings [...]
Anheuser-Busch InBev, the world’s largest brewer, has reported a better-than-expected core profit in the final quarter of 2020 and said it expected earnings to be “meaningfully” better this year. The brewer behind major beer brands including Budweiser and Stella Artois saw revenue hike 4.5 per cent in the three months to December, marking a strong [...]
Budweiser maker AB InBev said its US sales and profits plunged during the second quarter, as Bud Light fell out of favour with customers. Earlier this year, the beer giant chose transgender influencer Dylan Mulvaney to promote the alcoholic drink, sparking outrage from American conservative commentators, celebrities and anti-trans hate groups. The hashtag #BoycottBudLight went [...]
Danish brewer Carlsberg said today that it expects to suffer a smaller drop in profit than previously forecast after trade in China bounced back after the coronavirus lockdown. The firm said it expects a nine per cent drop in operating profit in the second quarter compared to analyst forecasts of a 26 per cent decline. [...]
Budweiser owner Anheuser-Busch InBev is reconsidering listing its Asia business on the Hong Kong Stock Exchange after it shelved an initial public offering plan earlier this year. AB InBev confirmed today that it has resumed its application for the listing of a minority stake of its shares on the Hong Kong Stock Exchange. Read more: [...]
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