Doom, gloom and disaster
At the end of October, Anheuser-Busch had to admit to a greater than expected drop in quarterly profit as price cuts on key brands hurt the company’s bottom line. Even more embarrassingly, the brewer also warned that its full-year-profit would fall 10 percent to 11 percent below last year’s figures and its shares slid 2.4 percent to their lowest in more than three years. The company reported a third-quarter profit of USD 518 million. This compares with earnings of USD 684 million in the same quarter last year.
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