BRUSSELS: Anheuser-Busch InBev, the world's largest beer maker, forecast a "materially worse" second quarter as coronavirus restrictions curb drinking across the globe, while noting some improvement in China.
The brewer of Budweiser, Corona and Stella Artois sold 9.3% less beer and other drink than a year ago in the first three months of 2020, but this decline worsened to about a third in April as bars and restaurants closed and some production halted.
At one extreme, South Africa banned sales of alcohol at the end of March, Peru closed down beer production and sale until the end of April, while many stores in Mexico were out of stock after breweries were shut.
The Belgium-based beer maker did say, however, there were early signs of recovery in China and South Korea as restaurants, and to a lesser extent clubs, began reopening from mid-March.
...