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A-B Cos. has big second quarter.

A-B Cos., Inc. has big second quarter

Anheuser-Busch Cos., Inc. announced that it achieved record sales and earnings in the second quarter and first half of 1990.

The company's performance, according to A-B chairman and president August Busch III, is due largely to the continuing growth of Anheuser-Busch, Inc., the company's brewing subsidiary, as well as higher profitability of several other subsidiaries.

The beer maker also reported record beer volume sales during the second quarter and first six months of the year. Sales to wholesalers were 22.3 million barrels for the second quarter and 42.4 million barrels for the first half, an increase of 4.3 percent and 3.6 percent, respectively. According to Busch, the brewer's second quarter gain of 914,000 barrels is the highest in the industry and widens the company's lead over its competitors.

For the first six months of 1990, Aheuser-Busch beer sales accounted for 42.9 percent of total brewing industry sales, according to Beer Institute estimates.

"We are extremely pleased with our beer company's performance," Busch said. "The company's beer sales volume growth is primarily attributed to the introduction of Bud Dry and Busch Light and to the strong performance of our other light beers."

A-B recorded $3 billion in gross sales - an increase of 11.5 percent over last year's figures - during the second quarter. A net income of $257.5 million was realized in that same period.
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Title Annotation:Anheuser-Busch Companies Inc.
Publication:Modern Brewery Age
Date:Aug 6, 1990
Words:238
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