Thursday May 8
InBev profit drops on rising costs
InBev SA, the brewer of Stella Artois and Beck's, posted an unexpected 11 percent drop in its first-quarter profit on Thursday, blaming rising costs for ingredients and shipping and weak sales in Brazil, where it does half its business.
The company said its costs for raw materials such as malt, rice and hops have been rising, and that they have driven InBev to raise beer prices in many of the regions where it operates.
It also noted the latest results were being compared with strong earnings a year ago. Read more
Posted by The Associated Press
Full Story: The Associated Press
Complete Coverage: 1 story
- MSN Money - Brewer InBev's profit drops on food inflation
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