BRUSSELS (AP) — Belgium-based beer maker Anheuser-Busch InBev has scaled down its revenue forecast for this year following poor results in Brazil.
The maker of Budweiser, Corona and Stella Artois had earlier predicted that net revenue would grow ahead of inflation. But the company said in a statement Friday that "given the weak results in Brazil, we now expect growth in line with inflation."
Beer volumes in Brazil fell by 4.1 percent in the third quarter, and by 2.5 percent in the United States over the same period last year.
The news comes a month after shareholders approved AB Inbev's takeover of SABMiller, the maker of Fosters and Miller beer.