Anheuser-Busch 2Q profit rises

Anheuser-Busch Cos. Inc., the nation's largest brewer, said Wednesday that higher beer prices and stronger demand helped push its profit up 6.1 percent in the second quarter on a similar rise in sales.

The maker of Budweiser, Bud Light and other beers earned $677 million, or 88 cents per share, in the three months ended June 30, up from $638 million, or 82 cents per diluted share, in the same period in 2006.

Net sales after excise taxes also rose 6.1 percent to $4.52 billion from $4.26 billion.

Analysts polled by Thomson Financial expected earnings per share of 86 cents.

The company also said its board has raised the regular quarterly dividend rate by 11.9 percent to 33 cents from 29.5 cents per share. The higher rate is payable Sept. 10 to shareholders of record on Aug. 9.

Anheuser-Busch shares rose 47 cents to $49.59 on Wednesay.

The company reported the revenue of its U.S. beer segment jumped 6.9 percent during the second quarter, due in part to higher prices the brewer phased in earlier this year. Revenue per barrel rose 3.1 percent while total U.S. beer sales volume rose 2.3 percent.

"Anheuser-Busch had a solid quarter in many aspects of our core operations," said August Busch IV, president and chief executive officer.

"Led by U.S. beer operations, all of our business segments reported improved earnings in the second quarter and the company is on track to deliver accelerating earnings growth in the second half of the year."

For the first six months of the year, Anheuser-Busch earned $1.2 billion, or $1.55 per share, up from $1.14 billion or $1.46 per share last year. Net sales rose to $8.37 billion, up 4.5 percent from $8.01 billion in 2006.

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Anheuser-Busch Cos. Inc.: http://www.anheuser-busch.com