WORLD’S LARGEST BEER GROUP
AB InBev stock down on third-quarter results
The world's largest beer company says cost savings from the SABMiller acquisition will be $400m higher than the originally estimated $2.8bn
Disappointing third-quarter results resulted in the Anheuser-Busch InBev (AB InBev) share losing almost 2% on the New York Stock Exchange before the close on Thursday. The weak rand cushioned the fall in the local market and by the close of trading the share was down just 0.65% to R1,692.66. The largest beer group in the world reported a 1.2% fall in beer volumes to 161-million hectolitres in the third quarter to end-September 2017. Shareholders will take some comfort from management’s announcement that cost savings from the SABMiller acquisition will be $400m higher than the originally estimated $2.8bn. The $3.2bn savings will be delivered within the same four-year period, which is by October 2020.