Budweiser Brewing Company APAC (1876) said its net profit slumped by 32.6 percent to US$489 million (HK$3.8 billion) last year as fourth quarter loss widened on weak China performance.
Total sales volumes in the year slid 6 percent to 79.7 million hectoliters, sending revenue 6.1 percent lower to US$5.76 billion.
Gross profit also dropped by 5.9 percent to US$2.89 billion with margin down 0.3 percentage points to 50.1 percent.
Its shares dropped 4 percent despite keeping the final dividend unchanged at 5.66 US cents.
In the last quarter alone, the brewer’s loss deepened by 5.56 times to US$105 million, with gross profit dropping by 6.3 percent to US$475 million.
