AB InBev Says Sales Volumes Rose in June
Anheuser-Busch InBev (NYSE: BUD) announced its quarterly results today, saying that sales volumes grew sequentially for each month in its second quarter versus the year-ago period. From a decline of 32.4% in April, volumes were only down 21.4% in May, and grew by 0.7% in June.
Due to the coronavirus pandemic, the company said it performed an impairment review. It determined that a 30% probability of the worst-case scenario warranted taking a $2.5 billion noncash goodwill impairment charge. The risk it identified was for a recovery of sales in South Africa, as well as the rest of Africa. South Africa has recently banned the sale of alcohol for a second time in its attempt to slow the spread of the coronavirus.
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Source Fool.com
