Brazilian beverage company AmBev posted on August 11 a 17 % rise in second-quarter earnings before interest, taxes, depreciation and amortization (EBITDA) from pro forma results a year earlier, according to a Reuters statement. Companhia de Bebidas das Americas, the brewer of popular beers including Brahma, showed consolidated EBITDA of 550.9 million reais ($184 million), with 525.9 million reais of that from its home market in Brazil. The EBITDA result was below the average forecast of 618 million reais in a Reuters survey of five analysts. AmBev's earnings per American Depositary Receipt fell to 0.34 reais, or $0.11, in the second quarter from 0.94 reais, or $0.33, a year earlier. AmBev did not explain why its bottom line fell.

Net sales for the company's Brazilian operations grew 14.1 % to 1.68 billion reais. Ambev's share of the Brazilian beer market also increased during the quarter to 70.1 % at the end of June from 69.4 % at the end of March. ($1 = 2.987 reais)

13 August, 2003