Emerging markets boost SABMiller
Fin24 - May 19th 2011, 11:22
London - Strong growth in the emerging markets of Africa, Asia and Latin America helped brewing giant SABMiller beat forecasts with a 19% rise in annual earnings while Europe and North America proved tougher.
The world's second-largest brewer and maker of Miller Lite, Peroni and Grolsch said as its emerging markets, which provide over 80% of its earnings, recovered strongly while tough economies in mature markets held back any upturn in beer sales.
"While consumer demand is likely to continue growing in most developing markets, there are uncertainties in the outlook for inflation and the pace of recovery in Europe and North America," the group said in a results statement on Thursday.
The London-based company reported adjusted earnings per share of 191.5 US cents for the year to end-March, compared with 189.5 cents from a company compiled consensus, and a Reuters SmartEstimate of 186.2 cents.
The annual dividend rose 19% to 81 cents a share.
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