Brewer AB InBev beats second-quarter profit forecasts, but volumes drag
The world's top brewer by volumes said its organic operating profit in the three months to end-June rose 6.5%, ahead of analyst expectations of a 5.7% rise, thanks to a 3% revenue growth and cost management that expanded margins.
The maker of Corona and Stella Artois has outperformed on profits, cheering investors. But it and other top brewers have struggled to get volumes growing.
For AB InBev, these fell 1.9% organically in the second quarter, well behind expectations for a 0.3% decline.
The company said it underperformed a soft industry in Brazil, one of its key markets, where bad weather hurt beer sales.
In China, where AB InBev has been struggling to keep pace with fast growth enjoyed by rivals like Heineken (HEIN.AS), opens new tab, it saw a 7.4% decline in volumes.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Daily Mail
34 minutes ago
- Daily Mail
The American hotspot where billionaires are buying up 'trophy homes' as they ditch London
The ultra-wealthy are ditching their second homes in London and buying up luxury properties in glamorous Miami, a new report has found. Ultra high net worth (UHNW) individuals, people with a net worth of more than $30 million, make up an exclusive group with a population of around 480,000. Members of this elite group own an average of three properties per individual, and a report from the information services firm Altrata found that Miami is the leading city for them to purchase luxury second homes. 'Miami is the most popular second-home location in the US, and globally, with a total of 13,211 UHNW second-home owners,' according to Altrata's report, Residential Real Estate 2025: Spotlight on the World's Leading Markets for the Wealthy. Notably, the Billionaire Buyers in London mid-year 2025 survey conducted by Beauchamp Estates found that over 70 percent of wealthy sellers are ditching their second homes in the UK capital and heading to cities such as Miami. Miami real estate agents told the Daily Mail they have worked with numerous international clients buying trophy homes in their city. 'We've seen some interest from London-based buyers recently, many of whom are reallocating funds from the UK market into Miami, diversifying their holdings,' said Maria Kuzina, owner of Miami Luxury Real Estate. 'London buyers currently represent, I would say, around three to five percent of all international buyers in the luxury market.' Jay Batra of the Batra Real Estate Group said: 'Miami continues to attract a diverse range of international buyers. Colombians, Brazilians, Russians, and Canadians are among the largest groups of foreign nationals investing in second homes here, drawn by the city's vibrant lifestyle and unique real estate opportunities. 'Miami Beach has historically seen 70 to 75 percent of its homes owned as second or third properties by buyers from across the US and around the globe.' He said driving factors bringing the ultra-rich to The Magic City include the warm weather, sandy beaches and low taxes. 'Miami has experienced strong growth of its wealthy second-home population over the past five years,' Altrata's report said. 'The city has long been a popular location for wealthy buyers seeking an additional residence, attracted by Florida's favorable tax regime, warm climate and coastal setting.' Kuzina said her clients are drawn to Miami because 'it strikes a perfect balance between lifestyle and investment opportunities'. 'Miami remains a top choice for international buyers due to its year-round sunshine, tax advantages, waterfront lifestyle, and its growing status as a global luxury hub,' she added. 'Today's buyers seek high-end, move-in-ready properties with privacy, premium amenities, and architectural distinction. Branded residences are particularly appealing as they offer world-class design, luxury services, and strong resale value.' Miami real estate agents told the Daily Mail they have worked with numerous international clients buying trophy homes in their city Batra explained that his international clients are looking for properties on the water with ritzy amenities. 'Condo buyers are drawn to the stunning water views, prime locations, and vibrant lifestyle that Miami and Miami Beach offer, paired with the convenience of being steps from the beach,' he said. Miami at been at the epicenter of a condo crisis after the 2021 collapse of a condo building in Surfside led to a new law that requires condo buildings to undergo structural inspections and shore up reserves. This has meant that many HOAs have been hiking fees and doling out hefty special assessments to comply with the new rules, which has reduced demand for condos. 'In Brickell, the allure lies in luxurious high-rises with breathtaking views and top-tier amenities like pools, gyms, and more - all within close proximity to workplaces.' He added that buyers searching for houses rather than condos tend to look for properties with a type of longevity. 'For those searching for houses, priorities shift to spacious yards, waterfront properties, private pools, and a sense of privacy. Buyers also focus on neighborhoods with strong potential for long-term value and appreciation,' Batra said. 'Additionally, flexibility is key; they often seek homes that can be easily rented out for a few months to a year if needed.' Batra admitted that some buyers are wary of Florida's turbulent housing market due to soaring HOA fees, skyrocketing insurance costs, and in some cases, hefty special assessments imposed by homeowners' associations. 'Buyers, both local and international, are increasingly concerned about rising costs. High insurance premiums and common charges are climbing across the board, adding to the burden already posed by elevated interest rates,' Batra said. 'These combined expenses are making it more challenging to purchase and maintain homes.' He noted that some of his clients have opted to purchase their homes in all-cash to escape these burdens. 'However, I've observed a growing trend among cash buyers, who are stepping in to offset these monthly costs,' he said. 'In fact, the most recent transaction involved an all-cash buyer, reflecting the strong demand in this segment.'
Daily Mail
2 hours ago
- Daily Mail
Firms call for interest rate cuts as taxes bite
Business leaders last night urged the Bank of England to press ahead with interest rate cuts this week. The heads of the Confederation of British Industry (CBI), British Chambers of Commerce (BCC) and Federation of Small Businesses (FSB) told the Daily Mail that now was the time to lower borrowing costs to ease pressure on companies and households struggling despite four rate cuts since last August. They also warned firms have been clobbered by Rachel Reeves' £25billion National Insurance tax raid on employers. Fears are mounting of more tax hikes this autumn to plug a gaping hole in the Chancellor's Budget plans. A report by the Institute of Directors last week showed business confidence has collapsed to a record low under Labour, with morale lower than during Covid lockdowns. Interest rates are expected to be cut from 4.25 per cent to 4 per cent on Thursday – though with inflation well above the 2 per cent target and the highest in the G7 at 3.6 per cent, the CBI warned the Bank is 'walking a tightrope'. Alpesh Paleja, deputy chief economist at the CBI, said: 'We expect a rate cut and then two more after that, so that rates settle at 3.5 per cent early next year. 'However, interest rates rank fairly low in the spectrum of costs. Firms continue to grapple with the rise in employer NICs, high energy costs and more general uncertainty. 'The cumulative burden is something the Government needs to be mindful of, as we head closer to the next Budget.' David Bharier, head of research at the BCC, said small firms in particular 'are increasingly impatient for more cuts'. He added: 'Interest rate cuts are only part of the solution right now. For many SMEs, the cost of doing business is too high with new tax and administrative burdens. To restore business confidence and stimulate investment, a comprehensive growth plan is essential.' Martin McTague, chairman of the FSB, said: 'Small firms will be hoping for a cut to ease some of the financial pressure they are under and enable more of those who need finance to grow to access it. 'If no cut is forthcoming, the Bank should set out a clear path for the rest of the year, building in a gradual easing of the base rate to encourage investment and unlock growth.'
Times
2 hours ago
- Times
Gen Z's perfect time to dine? Bookings for 6pm are booming
This summer, one London restaurant is introducing a £50 early evening set menu aimed at the growing crowd of purposeful post-work diners. 'It's a more accessible experience that still reflects our standards,' said Joe Laker, the co-founder and head chef at Counter 71 in Shoreditch, London. 'It's a more relaxed way to unwind.' And Laker isn't alone. Across the country, restaurants are adapting to meet demand from customers who want to eat earlier. Fashionably late is out — in 2025, it's the early diners who are first to the fork. Data from OpenTable, the online restaurant reservation service, reveals a sharp rise in 6pm reservations, up 11 per cent in London and 6 per cent across the UK compared with the same period last year. Zonal, the hospitality tech service, pegs the new national average dining time at 6.12pm, with nearly half of all bookings falling between midday and 6pm. Laker's new £50 menu at Counter 71 includes snack highlights from its long-form dinner, a main course focused on whole chicken and 'playful' desserts. But it's more than a menu shift — it's a response to a cultural change. 'Many of our guests now live further out than before,' Laker says. 'They want to eat early so they're not sprinting for the last train.' What began as a post-pandemic adjustment is now reshaping the way we eat out, pushing restaurants to overhaul their service models and menus, while diners swap late-night indulgence for early evening sobriety. Commuters and wellness-focused professionals are driving the shift in attitudes, along with the sober-curious and cost-conscious — and the restaurant industry is taking note. According to Lucia Reisch, a professor of behavioural economics from the University of Cambridge, Covid was a pivotal moment. 'People who work from home tend to start and finish earlier, which naturally leads to earlier dining. Add the lack of a commute, and people have far more flexibility,' she said. 'There's also now broader public awareness that late-night eating isn't great for health.' It's not just about health, although wellness is a major factor. 'Younger diners especially are making choices that reflect physical and mental wellbeing, but also financial health,' said Dr Richard Piper, the chief executive of Alcohol Change UK. 'Earlier dining helps avoid expensive late-night drinking — people want to socialise without the hangover.' That sentiment is echoed by Laura Willoughby, the co-founder of the low and no-alcohol specialist Club Soda. 'This isn't about being virtuous. It's about making the most of the week — whether that's getting to the gym early or having a quiet dinner midweek and saving bigger nights out for the weekend.' For Aamena Hanif, a London-based professional who frequently dines out, the draw is less logistical and more personal. 'I've started booking dinner around 6pm because the vibe just suits me better,' she said. 'I don't drink, so I'm not looking for a buzzy atmosphere. Early evenings are calmer. You can actually hear your friends talk.' Restaurants are already responding. At Sael, a private dining room in St James's Market, London, the chef and restaurateur Jason Atherton says the early prix fixe menu has proved popular. 'People are commuting farther and want to get home earlier — and health is a big factor,' Atherton said. 'Before the pandemic, we'd be plating main courses at midnight. Now, most of our venues close well before that.' Outside London, earlier dining is also gaining traction. At Fifty Two at the Rudding Park Hotel in Harrogate, North Yorkshire, Sunday dinner now starts at 6pm sharp — a response to guest preferences. 'Eating out is becoming a way to socialise without compromising other goals,' said Linda Haden of the hospitality analysts Lumina Intelligence. 'We're seeing more smoothies and fewer cocktails on dinner tables.' Peter Backman, a restaurant analyst, believes 6pm bookings now reflect something deeper. 'Dining at 6pm signals the end of the workday. It's not just about food — it's about reclaiming time,' he said. Andrew Oswald, an economics and behavioural science professor at the University of Warwick, agreed. 'Londoners had the longest commutes in the UK. The pandemic broke the psychological mould. People had time to realise they didn't want to arrive home at 9pm any more. I doubt they'll go back.'
