InBev Profits Up Thanks To Growth In Belgium

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This is despite declining sales in the US and Brazilian markets.

Net profits at the brewer of Stella Artois and Jupiler rose to €2.2bn in the three months to the end of June, up from €1.7bn a year ago but fell slightly short of analyst estimates of €2.3bn. Beer sales reached €14.5bn, compared with €13.4bn last year.

The brewer said bad weather and high petrol prices for a decline in US beer volumes. Sales in Brazil also fell. In Europe there was a steep fall in sales in UK but stonger performance in Belgium and Germany.

A high point for the company was strong growth in Asia with a 12% surge in sales in China.