News Summary: AB InBev's Q3 profit rises 31 pct

News Summary: Budweiser brewer AB InBev says 3rd-qtr earnings rose on takeovers, price hikes

Associated Press

LESS BEER, HIGHER PRICES: Anheuser-Busch InBev, the world's largest brewer, says its third-quarter profit rose as the takeover of new brands and higher selling prices offset the impact of lower sales volumes.

THE DETAILS: The company, based in Leuven, Belgium, said Thursday that net profit was up 31 percent to $2.37 billion (1.73 billion euros), from $1.81 billion in the same period last year. The gain largely reflects the company's $20 billion purchase in June of the 50 percent of Mexico's Grupo Modelo it didn't already own.

HOT BRANDS: Among the best performing brands were its flagship Budweiser beer, which increased global sales by 8.1 percent, and Corona, up 3.7 percent.

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