AB InBev Reports Earnings Growth, Steady Sales

The world's largest brewer, Anheuser-Busch InBev (AB InBev), has beat analyst expectations to report a 10% rise in core earnings for the first quarter of 2009. The firm's quarterly earnings before interest, taxes, depreciation and amortisation (EBITDA) - adjusted for one-off items - reached US$2.79bn, which can be compared to the pro forma figure of US$2.53bn in the first quarter of 2008. The result was attributable to resilient sales in Brazil and to significant profit margin growth in the US, which suggests that the ruthless cost-cutting policies espoused by InBev's management are already making an

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