SAO PAULO May 4 Ambev SA, the Latin American
unit of Anheuser Busch Inbev NV, missed first-quarter profit
estimates on Thursday, reflecting rapid growth in costs that
offset a decline in financial expenses and higher volumes.
Adjusted net income came in at 2.316 billion reais ($732.1
million), below a consensus estimate of 2.795 billion compiled
by Thomson Reuters from analysts. Income fell 20.1 percent from
a year earlier, Ambev said in a statement.
The São Paulo-based company said it expects its cost of
goods sold per hectoliter to grow in the double-digit region
during the first half of this year before stabilizing or
narrowing to single-digit rises between July and December.
($1 = 3.1635 reais)
(Reporting by Guillermo Parra-Bernal; editing by Jason Neely)