W. Randolph Baker - VP and CFO

Volume for our Budweiser and Harbin operations in China were up high single-digits in the first quarter. Profits were also up high single-digits despite increased marketing and distribution costs associated with the rollout of Budweiser and Harbin premium brands to new markets.

Earlier this month, Anheuser-Busch announced the construction of a new brewery in the Guangdong province city of Foshan to support the growth of our premium brands in China. Once construction is complete in 2008, AB will own and operate 15 breweries in China. In addition, during the first quarter, AB began distributing the Corona brand through our Budweiser China distribution system.

Related:

Latest Conference Call Transcripts from Seeking Alpha.

Why We Publish Transcripts of Earnings Conference Calls.

Sponsoring Conference Call Transcripts at Seeking Alpha.

• A Crack in China's Great Wall  »
• Barry Richards Is Bullish on Nortel's China Prospects  »
• SL Pharma Wins SFDA Approval for New Drug and a Clinical Trial  »
• Interview with Kevin Carter, AlphaShares CEO  »
• Can China Carry the Post-Olympic Torch?  »

Ezra Marbach

• Bio & more articles