UPDATE 2-AB InBev profit rise limited by World Cup marketing spend

miércoles 7 de mayo de 2014 05:28 GYT

* Q1 core profit $3.88 bln vs Reuters poll $3.98 bln

* Revenue up 8.9 pct, marketing spending up 17 pct

* Still sees 2014 growth of Mexico, Brazil markets

* Shares fall at opening, flat by mid-morning (Adds shares, analyst comment)

By Philip Blenkinsop

BRUSSELS, May 7 (Reuters) - Anheuser-Busch InBev, the world's largest beer maker, reported lower than expected first-quarter profit on Wednesday as its spending on marketing shot up ahead of the soccer World Cup in Brazil.

The maker of Budweiser, Stella Artois and Corona sold more beer than a year ago in every region except Europe. Brazil and China were the stand-out performers, with volume increases of 11 and 9.4 percent respectively.

Sales and marketing spending, much of it related to the upcoming World Cup, jumped 17 percent.

The brewer retained a forecast that the Brazilian and Mexican markets would return to growth this year due to the soccer tournament and stronger economies, and this despite a recently announced increase of excise duty in Brazil.   Continuación...