Budweiser owner AB InBev has reported stronger-than-expected second-quarter sales and profits, boosted by demand across the Americas and its sponsorship of the Fifa World Cup.

The brewer behind Budweiser, Corona and Stella Artois posted a 5.6 per cent increase in organic revenue during the quarter.

Reported revenue jumped 11 per cent to $16.66bn, while normalised earnings before interest, taxes, depreciation and amortisation rose 5.8 per cent to $5.94bn. Analysts had forecast earnings growth of 4.6 per cent.

Total volumes increased 0.9 per cent, with beer volumes up 1.1 per cent. It marked the second consecutive quarter of volume growth for AB InBev following several years of declines.

Underlying profit climbed to $2.39bn from $1.95bn a year earlier, while underlying earnings per share increased 23.4 per cent to $1.21.

The drinks giant said its global brands had benefited from marketing activity surrounding the World Cup, where it served as a major sponsor.

Revenue generated by Corona outside its home market rose 17 per cent, while Stella Artois and Michelob Ultra recorded increases of 19 per cent and 21 per cent respectively.

AB InBev’s alcohol-free beer sales also climbed 27 per cent, while revenue from its Beyond Beer portfolio, which includes canned cocktails and other alternatives, surged 44 per cent.

Beer volumes reached second-quarter records in Mexico, Colombia and Ecuador, while returning to growth in Brazil. Brazilian beer volumes increased 5.0 per cent during the period.

In the US, revenue rose 2.7 per cent despite sales to retailers falling 1.9 per cent and sales to wholesalers declining 0.6 per cent. The brewer said it had nevertheless outperformed the wider market as consumers continued to cut back or switch to spirits and canned cocktails.

China remained a weak spot, with volumes falling 9.7 per cent and revenue down 8.8 per cent amid poor weather and continued weakness across bars and restaurants.

AB InBev chief executive Michel Doukeris said: “Our performance this quarter reflects the strength of the beer category and the consistent execution of our strategy.”

The company maintained its full-year forecast for earnings growth of between four and eight per cent.

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