AB InBev reports $1.5 billion Q3 net profit
Thursday, 12 November 2009 10:55Anheuser-Busch InBev, the world's biggest brewer following a merger last year, reported $1.5 billion in third-quarter net profit today, but sales and volumes fell.
The company's net profits were more than double the $690m reported for the same time last year by InBev alone. InBev's takeover of US-based Anheuser Busch last year created the new company.
'Third quarter results came in largely as expected: consolidated volumes fell 3.2% versus the most difficult comparison of the year,' the company's chief financial officer said.
'However, we gained or maintained market share in six of our key markets,' he added.
Anheuser-Busch InBev's flagship beer brands include Budweiser, Stella Artois and Beck's. InBev bought US brewing giant Anheuser-Busch last November for $52 billion.
It has sought to sell off assets considered not to be central to its business model to help pay down the massive debt it built up to pay for Anheuser-Busch.
