Page last updated at 11:51 GMT, Thursday, 12 November 2009

Profits up at giant global brewer

Budweiser sign at Anheuser-Busch brewery in St Louis
Budweiser is one of the big-name brands of the firm

Anheuser-Busch InBev, the world's largest brewer, made $1.55bn (£935m) net profit in the third quarter.

It was largely on savings following last year's merger of Anheuser-Busch and InBev, as revenues fell 10% on less beer being consumed in the recession.

The combined firm - which makes Beck's, Budweiser, and Stella Artois beers - is based in Leuven, Belgium.

Revenue was $9.76bn, against a combined revenue last year for Anheuser and InBev of $10.89bn before their merger.

'Stronger company'

AB InBev's chief financial officer Felipe Dutra was unable to predict when beer sales volumes would improve.

But the firm's chief executive, Carlos Brito, said it was now "a much stronger company" after it had sold off US theme parks and a central European business.

It has also made $875m in cost savings from merging, nearing a target of $1 bn.

The company said that paying off debt was still a priority, and it was "selectively evaluating non-core assets" that could be sold off.

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