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SaltWire's Atlantic regional weather forecast for October 31, 2023 | SaltWire - Brazilian brewer Ambev SA on Tuesday reported a 19.3% jump in net profit on an organic basis, lifting its shares as lower aluminum prices and favorable exchange rates offset a dip in sales volumes.
Ambev shares were up more than 4% in morning trade, among the top gainers on Brazil's benchmark stock exchange index Bovespa, which was down 0.2%. Overall, sales were lower, with an increase of 13.6% in Central America and the Caribbean overshadowed by a fall of 9.4% in South Latin America and a 13.1% drop in Canada.
In Brazil, sales continued to grow, led by Brazil Beer. The company said premium beer brands led by Corona, Spaten, Stella Artois and Original grew by a low-teens percentage, outperforming the industry.
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