Get more Mail & Guardian
Subscribe or Login

SABMiller first-half profits up

World number two brewer SABMiller beat forecasts on Thursday with a 6% rise in first-half profit and said its second half should be boosted by a fall in input costs and favourable currency movements.

The London-based brewer of Miller Lite, Peroni and Grolsch beers reported adjusted earnings per share of 80 US cents for the six months to end-September.

Although the brewer said current trading conditions are set to continue into the second half, it added that input costs will begin to ease towards the end of this year and its second half will benefit from exchange-rate benefits.

”The group’s financial position remains strong and we are well positioned to take advantage of future improvements in the market environment,” the group said in a results statement.

The half-year dividend rose 6% to 17 cents a share.

The brewer, which earns nearly 90% of its profits from emerging markets like South Africa, Colombia, Poland and China, made no mention of Mexico’s second biggest brewer, FEMSA Cerveza, after analysts said they see SABMiller as the frontrunner to buy the business. — Reuters

Subscribe for R500/year

Thanks for enjoying the Mail & Guardian, we’re proud of our 36 year history, throughout which we have delivered to readers the most important, unbiased stories in South Africa. Good journalism costs, though, and right from our very first edition we’ve relied on reader subscriptions to protect our independence.

Digital subscribers get access to all of our award-winning journalism, including premium features, as well as exclusive events, newsletters, webinars and the cryptic crossword. Click here to find out how to join them and get a 57% discount in your first year.

Related stories

WELCOME TO YOUR M&G

If you’re reading this, you clearly have great taste

If you haven’t already, you can subscribe to the Mail & Guardian for less than the cost of a cup of coffee a week, and get more great reads.

Already a subscriber? Sign in here

Advertising

Subscribers only

The South African Bone Marrow Registry celebrates 30 years of...

‘It’s not drilling into bones!’: Misconceptions keep donors away, says SABMR, but a match outside of a patient’s family is a needle in a haystack

R500-million Covid-19 Gauteng hospital contract was irregularly awarded — SIU

The bank accounts of Pro Service Consulting and Thenga Holdings have been frozen

More top stories

With its industrial base decimated, SA’s economy needs real change...

Speaking at a book launch on Tuesday, the finance minister said a focus on manufacturing is critical to stem the country’s deepening unemployment crisis

Defence team cagey about Zuma’s health after state advised he...

The former president was absent from court, but his counsel argued that health matters be left aside, so as to hear his case for the removal of Billy Downer

The South African Bone Marrow Registry celebrates 30 years of...

‘It’s not drilling into bones!’: Misconceptions keep donors away, says SABMR, but a match outside of a patient’s family is a needle in a haystack

New clean fuel standards could be the end of refineries...

In the absence of mechanisms to recoup investment into cleaner fuels, refineries may be faced with tough decisions
Advertising

press releases

Loading latest Press Releases…
×