Anheuser-Busch InBev's global operations, including a strong topline performance from SA, have helped offset the fallout from a consumer boycott in the US that prompted a double-digit slide in sales in its biggest market.
The world's largest brewer reported results for its second quarter to end-June on Thursday, managing to deliver overall revenue growth of 7.2% to $15.1 billion , as a 9% rise in average prices offset a volume decline of 1.4%. Sales in North America fell just over 14% in the quarter, with core profit down 28% in this region, blighted by a consumer boycott of the Bud Light brand, which followed a campaign with transgender social media star Dylan Mulvany. This, along with comments from a marketing executive who said there was a need to move the brand away from a"fratty" and"out-of-touch" image, sparked a wave of media coverage and criticism in some quarters.
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Source: Moneyweb - 🏆 5. / 77 Read more »