SÃO PAULO-- Companhia de Bebidas das Americas, or AmBev, on
Friday said its profit increased in its third quarter, as lower
debt service costs helped offset tepid sales.
The brewer of such beer brands as Skol and Brahma posted a
third-quarter net profit of 2.89 billion reais ($1.2 billion), up
from BRL2.35 billion in the same period last year.
"After a solid first half of the year, we experienced a softer
third quarter as a result of a weaker macroeconomic environment in
Brazil and poor weather in Canada," the company said in a
statement.
The company's revenue increased 0.9% to BRL8.17 billion in the
quarter. Meanwhile, AmBev debt service costs totaled BRL221 million
in the period, compared with BRL497.4 million a year ago.
AmBev said its earnings before interest, taxes, depreciation and
amortization totaled BRL4.09 billion in the third quarter, down
from BRL4.22 billion a year ago.
Write to Rogerio Jelmayer at rogerio.jelmayer@wsj.com
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