INBEV POSTS 2ND-QUARTER RESULTS

InBev’s full year pre-tax earnings rose 15.5% and revenues increased 7.2% despite staggering sales in western Europe, their second biggest market. Second half profit went up 1.6% while sales gained 27% thanks to the 2004 acquisition of Brazil’s Cia De Bebidas das Americas. "Volume decrease in western Europe was expected. And although volumes fell, they improved a bit in the second half. Compared with its competitors, Inbev is actually not doing that badly," said Alexandra Oldroyd, analyst at Morgan Stanley. InBev is set to cut 360 in Belgium, Germany and Luxembourg but will create 295 jobs in the Czech Republic and Hungary, leaving 65 job losses in all.