AB InBev reports 1.5 billion dollar Q3 net profit

Anheuser-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 Thursday, but sales and volumes fell.

The company'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 last year 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."

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 dollars.

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.