Anheuser-Busch Profits Rise
ST. LOUIS (AP) _ Anheuser-Busch Cos.’s earnings rose 2.6 percent in the second quarter, led by strong international sales.
The St. Louis brewer’s strong sales in Bud beers, especially Bud Light, helped raise net income to $391 million, or 80 cents a share, in the period ending June 30. A year earlier profits were $381 million, or 76 cents a share.
Revenue rose to $3 billion from $2.99 billion in the second quarter of 1997.
Anheuser-Busch’s stock rose $1.06 1/4 to $50.75 on the New York Stock Exchange.
International beer sales increased 10 percent in the second quarter to 2 million barrels. The company said strong gains in the United Kingdom, Europe and the Americas offset weak sales in Asia.
Anheuser-Busch’s domestic beer market share for the first six months was 45.2 percent, an increase of .5 percent over 1997 market share of 44.7 percent.
Domestic beer shipments were up 1.6 percent to 24.1 million barrels in the second quarter and 3.3 percent for the first half of 1998.
In the meantime, Anheuser-Busch said that Teamster workers at 12 breweries across the country are voting on a proposed contract. Ballots are expected to be counted by July 30.
The company and its union workers have been at odds over the contract that union workers say doesn’t provide enough job security. The company’s offer was rejected on May 1, with further talks resulting in the current proposal.