Czech brewer Budvar again increases net profit amid pandemic

PRAGUE (AP) — Budvar, the Czech brewer that has been in a long legal dispute with U.S. company Anheuser-Busch over use of the Budweiser brand, increased its net profit by some 10% for the second straight year. Record output and exports last year led to the boost despite the coronavirus pandemic. Budejovicky Budvar NP, a 126-year-old state-owned brewery, says its net profit reached 337 million Czech crowns, or $14.4 million, in 2021. That’s up by 10.5% from the previous year. The brewer’s exports were up a record 11% in 2021. It also registered record output for the second straight pandemic year, rising 4.6%.