By Emma Rumney
LONDON, Oct 29 (Reuters) – Top brewer Anheuser-Busch InBev on Thursday posted third-quarter profits in line with forecasts, but said rising commodity costs had dragged on its gains in a number of markets.
Consumer goods companies have stepped up their warnings on costs as the war in Iran and its impact on the global economy drags on, with brewers like AB InBev, the world’s largest by global volumes, hit by higher costs for energy, diesel, aluminium and more.
The maker of Stella Artois and Budweiser said its organic operating profit in the quarter was up 3.9%, although its revenues had risen more than expected, with commodity costs offsetting top-line growth in some countries.
AB InBev flagged higher commodity, distribution and transportation costs in key markets like the United States, Europe and South Africa, where investments in sales and marketing also ate into profits. Its margin contracted 34 basis points to 36.1%, it said.
(Reporting by Emma Rumney; Editing by Tom Hogue)
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