AmBev, Latin America’s largest brewer, has seen its fourth-quarter grow in the mid-single digits helped by a strong performance in Brazil. For the quarter, net profit rose by a better-than-expected 5.3% to 1.79bn reals ($1bn), even as net sales grew by 6.5% to 6.78bn reals.

The company recorded good sales of beer (up 12%) and soft drinks in Brazil as consumers in the country began spending more, encouraged by a resurgence in the economy. However, results in Argentina and Canada were affected by difficult economic conditions and tough competition.

For the full year, Ambev saw its net profit rise by 11.8% to 5.8bn reals, while revenue was up 12% to 23.2bn reals.

NamNews - Monday 8th March 2010

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