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SAB - Earnings drop slightly due to surging A&P - Earnings Flash

Revenue climbed 7% in H1 2017 vs H1 2016 thanks to improved sales mix and ASP hikes, per the company. Beer, which accounted for 87% of SAB’s total revenue in H1 2017, edged up 6% in H1 2017 vs H1 2016. The aforementioned rise in ASP was likely driven by an increase in the special consumption tax from 55% to 60% at the beginning of this year.