Advertise with fastmoving.co.za
 
 

19% rise in annual earnings
19% rise in annual earnings

Emerging markets boost SABMiller

LIQUOR NEWS

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.
 

Read more about: sabmiller | sab | liquor | financials | earnings

Related News

Kraft Heinz reined in costs and increased prices — and it worked
05/11/2019 - 11:28
Kraft Heinz beat analyst expectations for third-quarter profit on Thursday as the packaged food company reined in costs and increased prices in the face of slowing demand for some of its key brands.

Dis-Chem warns of sharp decline in interim earnings
04/11/2019 - 09:50
Discount pharmaceutical retailer Dis-Chem expects a drop in half-year earnings due to one-off costs such as a change in bonus policy and a strike by employees.

Clicks eyes further market share amid double-digit sales growth
24/10/2019 - 10:00
Medicine and beauty products retailer Clicks said it was successfully weathering an increasingly tough environment for consumers and would spend R718m on its stores over the next financial year in order to pursue additional market share.

Rising feed costs clip Astral’s wings
11/10/2019 - 09:06
Astral Foods, SA’s largest poultry producer, said that rising feed costs and disappointing consumer spending patterns would crop its earnings in the year to end June.

AB InBev revives its offering for Apac in Hong Kong
01/10/2019 - 11:39
Anheuser-Busch InBev (AB InBev) has revived its failed initial public offering (IPO) in Hong Kong by offering 1.26 billion shares of a minority stake of its Asia Pacific subsidiary, Budweiser Brewing Company Apac, and the world’s largest brewer is hoping to raise $5 billion (R74.4bn) on listing.