AB InBev forecasts worst quarter in years on virus

LONDON: Anheuser-Busch InBev NV, the world’s largest brewer, has forecast the steepest decline in quarterly profit in at least five years due to the coronavirus.

First-quarter earnings will drop about 10% after fourth-quarter profit declined more than analysts estimated. AB InBev blamed the biggest jump in raw material costs in a decade for last year’s performance, and said it was a disappointment for the company.