AB InBev suffers $2.5bn writedown due to Covid-19
30 July 2020 - 09:44
The world’s largest brewer, Anheuser-Busch InBev (AB InBev), has written down its business by $2.5bn (R41bn) due to the risks posed by Covid-19 to sales in Africa, including SA where alcohol sales remain prohibited.
The group, which has a market capitalisation of about R1.7-trillion, reported that April volumes declined by 32.4%, May volumes dropped by 21.4%, though June volumes grew by 0.7%, “demonstrating the resilience of the global beer category”...
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