BRUSSELS (AP) — The world’s largest brewer, the maker of Budweiser and Corona, says the amount of beer it sold fell in the third quarter largely due to weaker demand as well as temporary shipping disruptions in China.
AB Inbev, a multinational based in Belgium, said sales of beer by volume fell 0.9%. Its overall revenue grew 2.7% to $13.2 billion as it managed to increase the profitability of some products.
The company noted consumers are looking for more sophisticated products, a trend that has hurt sales for some of its top brands in recent years.
While trying to develop more premium beers for wealthier consumers, it is also focusing on cheaper products in developing countries, where sales have been particularly good in Latin America.