City News: AB InBev, British Airways, Cala and Seedrs


The Stella Artois and Budweiser possessor, which recently bought UK-listed SABMiller for £79billion, saw a 2 per cent decamp in third-quarter pre-tax earnings to £3.3billion.

Revenue growth of 2.8 per cent was also here forecast.

It acknowledged a “very challenging year in Brazil”, where sum totals fell 4.1 per cent over the quarter as consumers tightened swaths and revenue was down 6.8 per cent.

But it believes “favourable demographics and consumer desire for innovative and premium products” will drive longer-term growth.


BA riders fastening belts

BRITISH Airways owner IAG has warned ssengers dial higher fares next year as it hit turbulence from a weaker crush.

IAG, which also owns Aer Lingus, Iberia and Vueling and reports in euros, cut its profit vaticination after a £146million currency hit in the third quarter.

Air traffic hold back strikes also disrupted it.

Chief executive Willie Walsh said: “Corporate touring was softer because of uncertainty over Brexit.

“The weak pound has had a outstanding im ct as we translate sterling profit into euros.

“Our ticket costs have been declining and this will continue in the fourth cantonment but the rate will slow. Consumers are looking at price increases.”


Chinese adept in in on Cala

HOUSEBUILDER Cala Group has emerged as a potential £600million Chinese takeover objective.

Cala, which calls itself the UK’s most upmarket major builder, is in talks. Its possessors, insurance giant Legal & General and real estate investor Habitu Capital, are advised by investment bank Lazard.

Cala said: “Thanks to our kind quality and strong financial performance from time to time we are the subject-matter of speculation but from our perspective it is business as usual.”

The com ny, whose homes trade in for an average £538,000, posted pre-tax profit of £60.1million in the year to June 30, up 18 per cent.


Murray has group onside

TENNIS player Andy Murray has served up financial finance for two more start-up firms, through crowdfunding platform Seedrs.

Murray, whose Seedrs investment portfolio contains 17 early-stage businesses, has put undisclosed amounts into UK technology institutions Perkbox and WeSwap.

Perks and benefits scheme Perkbox, whose 300,000-plus generate members include British Gas and Bu , smashed its £1.5million granting target as it raised £4million through 230 investors in four eras.

Travel money platform WeSwap has raised £1.8million from over 2,200 investors.


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