AB InBev Q1 Profit Falls - Quick Facts

(RTTNews) - Belgian brewer Anheuser-Busch InBev NV, or AB InBev (BUD, AHBIF.PK) posted a sharp decline in profit for the first quarter from last year on lower revenues. However, organic revenues grew 3.1 percent.

For the first quarter, the Group reported that profit attributable to equity holders of the company slid to $132 million from $2.68 billion, and basic earnings per share declined to $0.08 from $1.63 last year.

Normalized profit attributable to equity holders of AB InBev fell to $844 million from $2.29 billion last year, and basic normalized earnings per share declined to $0.51 from $1.40 last year.

Revenue for the quarter declined to $9.40 billion from $10.45 billion a year ago. On a constant geographic basis, revenue per hl grew by 5.2 percent, driven by strong premium brand volumes.

The company also said it is making good progress towards obtaining the necessary regulatory clearances for the proposed combination with SABMiller, and continue to expect the transaction to close in the second half of 2016.