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CORRECTED: Anheuser-Bush third-quarter profit rises

Wed Oct 24, 2007 2:51pm EDT

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A beer warehouse employee piles boxes of Budweiser beer in this September 2, 1999 file photo. Anheuser-Busch Cos Inc said on Wednesday quarterly profit rose as the nation's largest brewer sold more beer at higher prices. REUTERS/Jose Manuel Ribeiro

Corrects misspelling of company name in headline.

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NEW YORK (Reuters) - Anheuser-Busch Cos Inc (BUD.N) said on Wednesday quarterly profit rose as the nation's largest brewer sold more beer at higher prices.

The maker of Budweiser and Bud Light reported net income of $706.7 million, or 95 cents per share, for the third quarter compared to $637.5 million, or 82 cents per share, a year ago.

Anheuser controls nearly half the U.S. beer market but has lagged its rivals in other countries, where there is more growth. The company has sought to diversify with equity stakes in Mexican brewer Modelo (GMODELOC.MX) and China's Tsingtao (600600.SS) as well as distribution deals with InBev NV INTB.BR, Grolsch GROLc.AS and Hansen Natural Corp (HANS.O).

(Reporting by Martinne Geller)
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