The Belgian-Brazilian owned brewer said net profit reached $1.97 billion, against $1.73 billion for the July-September period in 2023.

It added however that volumes fell 2.4 percent during the quarter -- and in China the fall was more than 14 percent. Operating profit had fallen 20 percent, the group, said because China's economic troubles had caused a "soft consumer environment".

AB InBev said that global profitability had been maintained through "cost efficiencies and disciplined overhead management".

Turnover around the world fell 3.4 percent in the third quarter to $15.05 billion dollars. But the group insisted that underlying business was higher.

AB Inbev claims more than two billion consumers of its brands in 150 countries.

"We estimate we gained or maintained market share in 60 percent of our markets this quarter, with continued investment in our brands driving an increase in overall portfolio brand power," the group said.

Higher prices with increased focus on more expensive brands helped keep up margins, with operating profit only slightly down, 0.1 percent, at $5.4 billion.

Chief executive Michel Doukeris said in a statement that he was confident AB InBev would reach its target of operating profit of between six and eight percent of operating profit in 2024.

The group said the board had approved a two billion dollar share buyback to be carried out over the next 12 months.

aro/tw/raz

AB InBev