AB InBev raises profit despite lower beer sales
BRUSSELS May 6 (Reuters) - Anheuser-Busch InBev, the world's largest brewer, increased profit by slightly more than expected as it made up for lower beer volumes with price hikes and higher-priced beers.
First-quarter core profit (EBITDA) rose by 11.1 percent on a like-for-like basis to $3.97 billion. That compared with the $3.93 billion average forecast in a Reuters poll of analysts.
Overall volumes declined by 1.2 percent, principally due to a 6.0 percent fall in sales to wholesalers in the United States. This was because of a large ramp up in those sales a year earlier to build inventories ahead of union negotiations. (Reporting By Philip Blenkinsop)
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