Corporate News: Russia Weighs on AB InBev
BRUSSELS -- Anheuser-Busch InBev said weakness in the U.S., Russia and Ukraine weighed on its third-quarter sales volumes, but cost cuts and strong demand elsewhere boosted profit for the world's largest brewer.</br></br>AB InBev, whose dozens of brands include Budweiser, Stella Artois and Corona, reported on Friday a profit of 2.32 billion euros ($2.93 billion), up from 2.21 billion euros a year earlier. Sales volumes fell 2.6%.</br></br>A closely watched profit measure -- earnings before interest, taxes, depreciation and amortisation adjusted for one-time items -- grew only 1.3%. That is a marked slowdown, but the brewer said the result is "not reflective of expected future trends for the business."</br></br>The U.S., AB InBev's largest market, continued to be a soft spot, with sales volumes off 3.7% and revenue down 2.6%.</br></br>The brewer has been working, unsuccessfully so far, to reverse market-share losses for its flagship Budweiser brand in the U.S.