Anheuser-Busch 4Q earnings up 31 percent |
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Thu, 01 Feb 2007 21:38
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ST. LOUIS (AFX) - Anheuser-Busch Cos. Inc., the nation's biggest brewer, said its profit rose 31 percent in the fourth quarter on renewed growth in domestic beer sales.The maker of top-selling Budweiser and Bud Light beers earned $190.7 million, or 25 cents per share, in the three months ended Dec. 31 compared to $145.6 million, or 19 cents per share, in the fourth quarter of 2005.Net revenue after excise taxes rose to $3.42 billion from $3.37 billion a year ago.The projections matched expectations of analysts surveyed by Thomson Financial.Shares of Anheuser-Busch rose 23 cents to $51.20 in afternoon trading on the New York Stock Exchange.For the full-year, Anheuser-Busch earned $1.97 billion, or $2.53 a share, up from $1.74 billion, or $2.23 a share, in 2005. Net revenue rose to $18 billion from $15 billion in 2005.'Growth momentum was restored in the domestic beer business, significant progress was made on several strategic initiatives to enhance shareholder value, and earnings per share were up at the high end of our 7 percent to 10 percent long-term growth objective,' Anheuser-Busch President and Chief Executive Officer August A. Busch IV said.Copyright 2006 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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