AB InBev reports $1.5 billion quarterly net profitAnheuser-Busch InBev, the world's biggest brewer following a merger last year, reported 1.5 billion dollars (one billion euros) in third quarter net profit on Thursday, but sales and volumes fell. The Budweiser brewer's net profits were more than double the 690 million dollars reported for the same period last year by InBev alone. InBev's takeover of US-based Anheuser Busch in 2008 created the new company. "Third quarter results came in largely as expected: consolidated volumes fell 3.2 percent versus the most difficult comparison of the year," chief financial officer Felipe Dutra said in a statement. "However, we gained or maintained market share in six of our key markets." The results showed that combined operating expenses Operating expenses The amount paid for asset maintenance or the cost of doing business, excluding depreciation. Earnings are distributed after operating expenses are deducted. for distribution, sales and marketing and administration fell 3.7 percent in the third quarter and 4.7 percent over the first nine months of the year, helped by "synergy programmes in the US." "Anheuser-Busch InBev enters the fourth quarter a much stronger company than at the start of the year, with a significantly improved balance sheet," added chief executive Carlos Brito Carlos Alfredo de Brito, GCIH (born 1933) is a Portuguese politician. He joined the illegal Portuguese Communist Party (PCP) during the fascist New State regime (1932-1974), by whom he was imprisoned. . Pointing to divestments running to 9.4 billion dollars -- well above the targeted 7.0 billion dollars -- he said the company "can now focus all of our efforts on growing our core business." Anheuser-Busch InBev's flagship beer brands also include Stella Artois This article is about Stella Artois lager. For the tennis competition that the company sponsors, see Queen's Club Championships. Stella Artois (IPA pronunciation: [ˈstɛ. and Beck's. InBev bought US brewing giant Anheuser-Busch last November for 52 billion dollars. It has sought to sell off assets considered not to be central to its business model to help pay down 45 billion dollars of debt it built up to pay for Anheuser-Busch. In October, it sold its central European operations to private equity firm CVC See CSC. for up to three billion dollars, as well as a rump of US theme parks for a potential 1.84 billion dollars. Other disposals include Chinese, Scottish and South Korean beer The South Korean beer market is dominated by the three major brands: Cass, Hite, and OB. Most restaurants and bars will only have one on tap, as they are largely regarded as similar in taste and price. interests as well as US container and lid plants. The results statement said the company had repaid 12 billion dollars of prime debt in October, one year ahead of schedule. 
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