Dear Client: The profit and margin machine that is AB InBev continues to rumble along. ABI posted stronger than expected earnings and margin expansion, as cost cuts in the US were accelerated. Earnings were up 13% to $3.6 billion. But global sales volumes were down 1.1%. Only ABI can post lower volumes but increased profits. Just to give you a sense of how much bigger ABI is now that it has swallowed A-B, they sold 105 million hectoliters in Q2
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