Sales overflow for drink giants Diageo and AB InBev as consumers still opt for pricey tipples July 28, 2022 Global drinks titans Diageo and AB InBev have reported overflowing sales after the easing of Covid lockdowns has driven punters back into bars. Johnnie Walker maker Diageo posted net sales of £15.5bn, an increase of 21.4 per cent, which it accredited to the pub and bar sector recovering from the side effects of Covid 19 [...]
Siemens loses £512m as it gears up for full Russian exit after 170 years May 12, 2022 Siemens is set to face a €600m (£512m) hit in the second quarter after announcing its full exit from the Russian market after 170 years.
Consumers buying more beer as Budweiser maker AB InBev reiterates growth outlook May 5, 2022 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 owner AB InBev to exit Russian venture in $1.1bn hit April 22, 2022 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 [...]
Billionaire beer heir and George Osborne enter the fray in Chelsea sale race April 18, 2022 An American billionaire beer heir and former chancellor George Osborne have joined separate bids to buy Chelsea Football Club, with a decision on the sale now expected this month. Sky News reports Alejandro Santo Domingo, who sits on the board of Budweiser owner AB InBev, is a part of an investor group led by ex-Liverpool [...]
World’s largest brewer AB InBev upgrades earnings growth forecast after success in Brazil October 28, 2021 Budweiser maker AB InBev has upgraded its earnings growth forecast for 2021 after it reported a surprise jump in profit. An unexpected third-quarter profit increase came after the world’s largest brewer’s beer sales were boosted by Brazilian consumers. The Belgium-based brewer said on Thursday it anticipated EBITDA to grow between 10 per cent and 12 [...]
Oprah-backed startup Oatly raises $1.4bn in stock market debut May 20, 2021 Swedish vegan milk startup Oatly, which is backed by US talk show star Oprah Winfrey, has raised $1.4bn (£987m) in its initial public offering in New York. The company, which is also backed by Natalie Portman, Jay Z and former Starbucks boss Howard Shultz, today said it priced 84.4m shares at $17 each — the [...]
AB Inbev boss Carlos Brito to step down after 15 years at the helm May 6, 2021 AB Inbev chief executive Carlos Brito is stepping down after 15 years in the top job, marking the end of an era for the brewing giant. Brito, who has worked at the company for 32 years, is credited with transforming the company from a regional Brazilian brewery into the world’s largest beer maker. He will [...]
Budweiser invests £115m in UK breweries to pour an extra 630m pints a year March 4, 2021 Budweiser has announced plans to invest more than £115m in its two major UK breweries to improve their infrastructure and create jobs. The beer firm, which is part of drinks giant AB Inbev, will install modern equipment at its South Wales and Lancashire sites to expand capacity in brewing, canning and bottling. The investment will [...]
BT chair Jan du Plessis steps down to ‘focus on other interests’ March 1, 2021 BT chair Jan du Plessis will step down from the board less than four years after joining the telecoms firm. The former Rio Tinto chair joined BT as a non-executive director in June 2017 and was appointed chair that November. Prior to his role at the telecoms giant, du Plessis was chairman of SABMiller when [...]