According to the Associated Press, brewer InBev SA’s second-quarter profit climbed 8.6 percent despite higher costs and weak sales in Russia and Europe as the company payed less in taxes.
Leuven, Belgium-based InBev reported a net profit of ?542 million (US$808 million) for the three months ending June 2008, rising from ?499 million (US$680 million at earlier exchange rate) for the same period in 2007.
This was largely thanks to a deferred tax asset that saved the company ?83 million (US$124 million), it said.
It also grew sales in Brazil – where it supplies more than two-thirds of all beer – which helped outweigh shrinking sales in Russia and western Europe.
Global sales were down 0.3 percent to ?3.71 billion (US$5.53 billion) from ?3.72 billion (US$5 billion at earlier exchange rate). InBev blamed a refocus on more lucrative premium brands that saw it lose market share on lower-priced beers.
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