BRUSSELS (AP) - Anheuser-Busch InBev says fourth-quarter profit dropped 95 percent as beer sales went flat or fell as costs for ingredients and packaging rose.
The world's largest brewer reported $61 million in profit compared to $1.1 billion a year earlier. Total revenues were up 35 percent to $6.5 billion from $4.8 billion.
CEO Carlos Brito said executives would not get a bonus because the company had missed targets to expand last year. He said the company would now focus on reducing debt.