E-Malt.com News article: 969

Led by continued strong growth in its domestic beer operations, Anheuser-Busch Cos., Inc., achieved record first-quarter sales and earnings, it was announced today by Patrick Stokes, president and chief executive officer of the company. Stokes made the announcement at the company’s annual meeting of shareholders in Orlando, Florida. Consolidated net sales increased 4.6 percent in the first quarter, while earnings per share increased 11.8 percent.

"Anheuser-Busch had another very good quarter and continued its track record of delivering consistent and dependable earnings growth. The company has now achieved 18 consecutive quarters of solid double-digit earnings per share growth,” said Stokes.

Strong growth in domestic revenue per barrel drove significantly enhanced profit margins in the quarter. Both gross profit margin and operating profit margin improved 80 basis points compared to the first quarter 2002. Return on capital employed increased 160 basis points over the past twelve months.
Domestic revenue per barrel grew 2.8 percent in the first quarter 2003 vs. the first quarter 2002. This growth reflects the continued favorable pricing environment and the company’s successful implementation of pricing actions on approximately two-thirds of its domestic volume in two phases – October 2002 and February 2003.

Domestic beer sales-to-wholesalers increased 1.3 percent for the first quarter of 2003 vs. the first quarter 2002. Wholesaler sales-to-retailers were up 0.3 percent in the first quarter vs. 2002, dampened somewhat by the impact of severe winter weather in key markets this year and the later Easter holiday period in 2003. In 2003, the Easter holiday occurred in the second quarter. Last year, the Easter holiday fell in the first quarter.


25 April, 2003