Corona helps AB InBev book record SA volumes amid Bud Light boycott backlash
While the Bud Light controversy appears to still haunt it in the US, AB InBev has reported revenue growth in 75% of its markets, including South Africa, where it's enjoying record volumes.
The biggest driver locally has been the top-end category, with customers opting for premium beers even in a difficult economy, with the likes of Corona and Stella Artois leading the charge. Reporting first-quarter results on Wednesday, the world's largest brewer noted that its local unit South African Breweries' high volumes helped deliver"double digit top- and bottom-line growth with margin expansion," referring to a more than 10% increase in both revenue and profit.South Africans need to be in the know if we want to create a prosperous future. News24 has kept the country informed for 25 years, and we're about to enter a new chapter of fearless journalism.
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