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AB InBev suffers weak start to year in Brazil

Reuters - UK Focus

BRUSSELS, May 4 (Reuters) - Anheuser-Busch InBev, the world's top brewer set to buy number two SABMiller (Xetra: BRW1.DE - news) , reported lower than expected earnings in the first three months after what it said was one of the most challenging quarters in Brazil in years.

First (Other OTC: FSTC - news) -quarter core profit (EBITDA) rose by 2.5 percent on a like-for-like basis to $3.46 billion billion, compared with the average forecast in a Reuters poll of $3.73 billion.

The brewer of Budweiser, Stella Artois and Corona had already cautioned in February that it was likely to have a weak start to the year in Brazil. (Reporting By Philip Blenkinsop)