Higher beer prices have boosted Anheuser-Busch InBev's net sales in the first quarter of 2011, despite weak consumer demand in North America, the brewer has said 4 May. The Budweiser brewer's share price sank by 3% in early trading after it reported that a 3.5% drop in volume sales in North America offset rises in all other regions, including Western Europe. Group volumes fell by 0.4% for the three months to the end of March, compared to the same period of 2010. However, higher beer prices lifted A-B InBev's net sales for the quarter, with revenue per hectolitre up by 6%. Meanwhile, favourable currency and a strong financial performance from AmBev boosted profits, said the group. Lower financial costs, including lower net interest charges, also lifted net profits. "Brand health and topline organic growth remain our priorities," said the brewer, adding that it remains committed to increasing sales and marketing spend by mid to high single digits in 2011.
