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The Canadian Press - ONLINE EDITION

Budweiser brewer ABInBev says fourth quarter profits rose 45 per cent on growth, cost-cutting

AMSTERDAM - ABInBev SA, the maker of Budweiser and the largest global brewer, has reported a 45 per cent increase in profits for the fourth quarter of 2013 on a mix of acquisitions, growth, and cost-cutting.

Net profit was $2.52 billion, up from $1.74 billion in the fourth quarter of 2012. Sales rose 4.6 per cent to $11.7 billion.

On a conference call with journalists Wednesday, Chief Financial Officer Felipe Dutro said the first quarter of 2014 has been tough in the U.S. due to cold weather. However he predicted 2014 will see an extra boost due to better global growth and the World Cup, especially in Brazil.

"We've turned the page on a challenging 2013 and look forward to a much better 2014," he said.

AB InBev is based in Leuven, Belgium.

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