World's largest brewer says virus shaved up to US$285 mil off its revenue in China in first 2 months. FMTNews CNY Chinese Beer
BRUSSELS: The world’s largest brewer Anheuser-Busch InBev forecast a 10% decline in first-quarter profit on Thursday after the coronavirus outbreak hit beer sales during the Chinese New Year, sending its shares skidding.
The Belgium-based company, which sells more Budweiser in China than in the lager’s key US market, said the disease shaved up to US$285 million off its revenue in China in the first two months of this year, 2.3% of its first-quarter group revenue last year. Shares in AB InBev were down 7.5% to €57.25 in morning trade, the second weakest performer in the FTSEurofirst index of leading European stocks.
The company’s fourth-quarter core profit declined 5.5% to US$5.34 billion, worse than market expectations of a 1.9% drop.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Daily Covid-19 death toll in China hits new low of 52 | The Malaysian InsightDaily Covid-19 death toll in China hits new low of 52
Read more »
China re-opens tourist sites in low-risk regionsBEIJING, Feb. 26 (Xinhua): Some tourist attractions in low-risk regions of the novel coronavirus outbreak have gradually resumed opening to the public, Liu Kezhi, an official with the Ministry of Culture and Tourism, said Wednesday.
Read more »
Mainland China reports 433 new coronavirus cases, 29 deathsChinese authorities are also turning their attention to potential sources of infection from abroad. FMTNews China
Read more »
Kes SRC: Jho Low rujuk Najib sebagai 'bos'PENGARAH Urusan Kumpulan Putrajaya Perdana Bhd (PPB) memberitahu Mahkamah Tinggi di Kuala Lumpur bahawa ahli perniagaan dalam buruan Low Taek Jho atau Jho Low merujuk Datuk Seri Najib Razak sebagai ‘bos’.
Read more »
Najib's aide introduced me to Jho Low, says witnessRosman Abdullah told the High Court that Najib's principal private secretary Azlin Alias told him Jho Low was looking for a business partner. FMTNews JhoLow
Read more »
SRC trial: Former company director tells court Jho Low referred to Najib as ‘boss’ | Malay MailKUALA LUMPUR, Feb 27 — The group managing director of Putrajaya Perdana Bhd (PPB) told the High Court here today that fugitive businessman Low Taek Jho, or Jho Low, referred to Datuk Seri Najib Tun Razak as his ”boss”. Datuk Rosman Abdullah, 53, said this happened...
Read more »