USA: Anheuser-Busch expects this year profit to endure from less profitable UK business
Anheuser-Busch Cos. Inc. said November 28 it expects its international beer operations to post lower profit this year as more revenue in Britain comes from less profitable products, Reuters announced November 28.
International beer pretax income was up 8 percent through the first nine months of 2006 for the brewer of Budweiser and Bud Light, with lower profit in Britain offset by increases in China, Canada and Mexico.
In comments prepared for an investor conference, the largest U.S. beer brewer also said it expects growth in revenue per barrel to be slightly higher in 2007, with price increases planned for early in the year.
The company also said lower energy prices should help costs increase less in 2007 than in 2006.
Anheuser-Busch, whose Bud Light is the top-selling brand in the United States, controls about half the domestic beer market. But its dominance is being challenged by imported light beers such as Heineken Premium Light and Corona Light.
The company said November 28 it plans to increase marketing spending in 2007 to help boost sales volume.
Last month the St. Louis, Missouri-based company posted better-than-expected quarterly profit, helped by price increases instituted in some markets over the summer. The company, which last year cut prices amid sluggish growth in the United States, said last month that it plans to raise prices again on most of the beer it sells early next year.
Analysts are seeking clues on how the brewer can sustain profit growth at home as it loses market share in a market that is shrinking as U.S. consumer tastes shift away from beer toward wine and cocktails.
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