03/08/2012 02:03 EST | Updated 05/07/2012 05:12 EDT

AB Inbev profits nearly double in Q4 to $1.85 billion

BRUSSELS - Anheuser-Busch InBev, the world's largest brewer, says its net profit in the fourth quarter nearly doubled compared to the same period a year earlier thanks to strong global growth of its Budweiser and Stella Artois brands.

The Leuven-based company reported Thursday that its net profit was $1.85 billion compared with $968 million a year earlier. Revenue meanwhile rose 5.7 per cent to $9.87 billion.

The report said Budweiser performed well in 2011 with global volumes up by 3.1 per cent. Meanwhile, Stella Artois volumes increased by 5.9 per cent, led by a 24 per cent surge in sales in the United States, 13 per cent in Argentina and a massive 200 per cent in Brazil.

Overall, the company's three global brands — Budweiser, Stella Artois and Beck's — grew by 3.3 per cent, it said.