AB InBev and Carlsberg reported growth driven by non-alcoholic beers and soft drinks as global alcohol moderation trends continue. AB InBev saw group sales volumes rise 0.4 per cent, with revenues up 4.9 per cent to $16.5bn. Zero-alcohol beer sales jumped 35 per cent, while non-beer sales rose 19 per cent, led by Cutwater in the US.
The strong performance offset deep declines in China, where sales volumes fell 16.8 per cent. Carlsberg experienced a 3.5 per cent decline in beer volumes, but non-beer volumes grew 8.5 per cent. Total volume grew 0.3 per cent, with third-quarter sales up 3 per cent on an organic basis to DKr25.3bn.
Carlsberg's acquisition of UK soft drinks company Britvic doubled its soft drink sales to just below 30 per cent of group revenues. Both companies struggled with weak demand in China, which dragged volumes in Asia down 6.7 per cent. AB InBev shares fell 2.4 per cent in Brussels but have risen more than 30 per cent this year.
Carlsberg fell 1.3 per cent in Copenhagen but has gained almost 14 per cent this year.
Source: Financial Times Companies · Summarized by HeadlinesBriefing