just a hiccup
Anheuser-Busch InBev 4Q profit down 95 percent as beer sales go flat or fall
By AOIFE WHITE | AP Business Writer
6:39 AM EST, March 5, 2009
LEUVEN, Belgium (AP) — Brewing giant Anheuser-Busch InBev's fourth quarter profit plunged 95 percent as it paid the costs of the takeover that formed it last year and as beer sales went flat or fell, the company said Thursday.
The world's largest brewer said it would now focus on reducing the massive debt from InBev's $52 billion takeover of Anheuser Busch — and would aggressively shave costs and sell off some $7 billion in assets.
AB InBev said profits fell to euro49 million ($61 million) from euro900 million a year earlier.
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in other beer-related financial news,
"In a year that saw a 24 percent drop in The Boston Beer Co.s stock price and a 71 percent fall in its net income through Sept. 29, the renowned maker of Samuel Adams beer awarded more than $1 million in bonuses to its top executives and chairman in 2008.
The bonuses ranged from 42 percent to 83 percent of each individuals potential total bonus for the year, the company said in a regulatory filing. The biggest award, $399,977, went to Boston Beer President and CEO Martin Roper. Ropers bonus was $584,200 the prior year. His salary for 2008 was $666,750."
Full article: http://www.bizjournals.com/boston/stories/2009/03/02/daily3.html
Posted by: Dave | March 5, 2009 01:33 PM