InBev: Beer volumes down 4.1% in UK
InBev has reported beer volumes in the UK were down 4.1% on last year in its half year results.
InBev has increased prices twice this year
The Stella Artois brewer, who recently announced a second price increase of 3.3% on top of an earlier rise this year of 4.1%, said that its volume dip was ahead of the market in the UK resulting in greater market share for its beer.
In Western Europe, InBev said volumes in the second quarter were down 1.4% on last year with Belgium the worst hit – suffering a 9.2% drop in own beer volumes.
InBev also underperformed in Russia with shipments of beer volumes down 7.7% in the quarter.
Overall, InBev said trading was in line with expectations with total volumes up by 0.7% and own beer volumes up by 0.9% in the second quarter.
Consolidated revenue was up 4.5% in the second quarter and revenue up 3.7% for the half year due to price increases.
InBev also secured an agreement to acquire US brewer Anheuser-Busch in the trading period and, subject to shareholder approval, is set to complete the deal by the end of the year.
“Although industry growth in some key markets is below last year, we delivered market share results in the majority of our markets,” said InBev chief executive Carlos Brito. “Our overall pricing is healthy, but rising costs continue to put pressure on our margins."
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