AB InBev withdraws guidance due to coronavirus outbreak
The group had already expected a double-digit drop in earnings in its first quarter as a result of reduced beer sales in China
24 March 2020 - 10:21
The world’s largest brewer, Anheuser-Busch InBev (AB InBev), which recently warned that reduced beer sales in China would hit its first-quarter performance, has withdrawn its guidance of up to 5% core profit growth in its 2020 year due to the spread of the virus across the globe.
The group had said in February that it expected to a 10% drop in earnings before interest, taxation, depreciation and amortisation (ebitda) in its first quarter to end-March, saying at the time it expected 2020 core profit growth of between 2% and 5%...
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