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Business

Interbrew Sales up Despite Drop in German Beer Consumption

Interbrew, the beer giant which acquired German brand Beck's two years ago, has posted strong growth thanks to Europe's hot summer. The Belgian-owned group’s overall sales rose 7 percent in volume terms during the first half of 2003, despite news that German beer consumption dropped by 5 percent during the recorded period. The acquisition of German brewer Beck's boosted Interbrew’s share of the world's biggest beer market to 7.4 percent but in the first six months of 2003, German drinkers have failed to live up to their reputation as the most enthusiastic consumers of their national product. However, the parent company has faired well regardless as the group posted pre-tax profits of €622 million, up almost 9 percent on the same period in 2002.