Inbev, the world’s largest brewer by volume, has reported an 11 per cent fall in profits, despite a 4.8 per cent increase in sales.
The company’s net profit for the first quarter of 2008 fell to £195 million (249 million euros, $382 million) – a significant reduction when compared to the 280 million euro profit it had made the previous year.
Inbev blames soaring input costs for the fall in profits, with the rise in sales failing to compensate for the increase in the price of key ingredients.
The firm remains positive, however, with chief executive Carlos Britos believing that “the right programmes [are] in place to deliver stronger results in the following quarters.”
