Brazilian brewer Ambev posts 11% fall in Q3 net profit (updated)

Ambev SA

31/10/2024 07:53

(Rewrites throughout)
       Oct 31 (Reuters) - Brazilian brewer Ambev  ABEV3.SA 
reported on Thursday an 11% drop in third-quarter net profit, in
line with market forecasts, driven by higher tax outlays in its
home market.
    The subsidiary of Anheuser-Busch InBev  ABI.BR , the world's
largest brewer by volume, posted a profit of 3.57 billion reais
($619.5 million), while volumes also slipped 0.6%. 
    "We remain focused on executing our commercial strategy and
are confident in our preparedness for the Summer season in South
America", the company said, maintaining its forecast for cash
cost of goods sold per hectoliter at its Brazil Beer business to
decrease between 0.5-3.0% this year.
    Ambev reported a 1.3% rise in volumes in Brazil, offset by a
7.7% drop elsewhere in South America.
    The brewer announced in August that Carlos Eduardo Lisboa
would become its chief executive next year, with current CEO
Jean Jereissati Neto moving to lead the company's Middle
Americas unit.
    ($1 = 5.7624 reais)

 (Reporting by Natalia Siniawski; Editing by Jason Neely and
Mark Potter)
 ((natalia.siniawski@thomsonreuters.com;))