Anheuser-Busch has warned that it expects US shipment volume to fall by 2% this year, citing increasing cost pressures. W. Randolph Baker, the group’s chief financial officer, said that full year revenue per barrel would be down for the year. The news came as the company reported third quarter net profit down 24% to $518m (£291m). Net revenue was $4.1bn, up slightly from a year ago when revenue was $4.08bn. The group has seen some recovery in market share, which will allow it to scale back its price discounts in 2006. Patrick Stokes, the company’s president and chief executive, said: "We are disappointed in our sales and earnings results, but we are encouraged by improvement in our market share performance at the consumer level. "Both the company and the domestic beer industry have experienced volume declines and significant cost pressures."