The Brazilian-based brewer AmBev's has confirmed that its beer sales volumes in Brazil declined by around 12% in the third quarter this year versus third quarter 2002.

But in a statement the company said: "Despite the shortfall in volumes, AmBev's management remains confident that its revenue management initiatives, combined with its tight grip on costs and expenses and the strength of AmBev's people, among other factors, will lead the company to achieve its internal profitability targets for 2003."