Top story:
AB InBev revenues hit a record high in the fourth quarter as the beer giant’s profits beat analysts’ expectations.
Its operating profit rose 10.1%, exceeding analyst forecasts of 7.7%, thanks to strong cost management, the business said.
Its revenue was boosted by more expensive beers like Corona, although a 19% fall in Chinese volumes is likely to worry some investors.
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Morning update:
Glanbia got a boost from the continued hunger for protein last year as the Irish nutrition group reported a healthy jump in sales.
Revenue was up 5.8% to $3.8bn in the year to 4 January, while earnings per share rose 6.8% in line with guidance.
Some of the largest growth was seen in Optimum Nutrition and Isopure, two of Glanbia’s core protein brands, which both delivered double-digit volume growth, according to CEO Hugh McGuire.
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