Latin America swells Inbev

Full year profits at Inbev have beaten forecasts following significant sales in Latin America.

Despite this, however, the Belgian brewer said it would have to cut costs after selling 1.4% less beer in western Europe than in 2004.

Full year earnings before interest, tax, depreciation and amortisation rose 15.3% to e3.34bn in 2005. Sales in Latin America nearly tripled, contributing almost a third of earnings. Volume in China and central and eastern Europe was also strong.

According to Reuters reports, cost-cutting is set to claim 360 jobs in Belgium, though about 295 would subsequently be created in the Czech Republic and Hungary, it was claimed.  db  April 2006