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Thursday, March 26, 2009 10:04:27 PM
"Anheuser-Busch InBev has reported a fall in net profit for 2008, with slowing global beer sales in the fourth quarter.
The brewing giant, which was formed last autumn after InBev gained clearance for its $52bn takeover of Anheuser, said today (5 March) that combined net profit fell to around EUR2.1bn (US$2.6bn) in 2008, down from EUR3bn in 2007.
Price rises helped the brewer to increase sales revenue for 2008 by 5%, to EUR16.1bn."
That's an increase of 5%. I think if InBev saw a 95% fall off in sales revenue, even for a day, it would be a headline. Look at the press the automakers have with a 50% decline.
JSDA had revenues last quarter of just about $6 million, and yes, that was a big drop from prior quarters. They also lost about $3.3 million about 60% of sales. They have however $12 million in cash and $17 million in working capital. Now compare that to DKAM which had a loss of 200% of it's sales last quarter, also sales declines from earlier periods, not much cash and negative working capital. Nonetheless, JSDA and DKAM have almost the same market cap (at least if you assume full conversion of the preferred). Sounds to me like DKAM isn't doing too badly in the valuation department.
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