Page last updated at 10:06 GMT, Thursday, 19 November 2009

SABMiller sees 26% drop in profit

SABMiller's Peroni Nastro Azzurro
SABMiller is the world's second largest brewer behind Anheuser-Busch InBev

SABMiller, the world's second largest brewer, has reported a fall in profits after being affected by unfavourable currency movements.

Pre-tax profits came in at $1.5bn (£896m) for the six months to the end of September, down 26% on a year ago.

It was hit by "weakness of our major operating currencies against the US dollar". Revenue fell 21% to $8.8bn.

However, stripping out currency fluctuations, earnings were up 11%, and shares in the company rose 4%.

SABMiller's brands include Peroni, Grolsch and Miller Lite.

The firm added that its results for the second half of the financial year should be boosted by a fall in input costs and exchange rate benefits.



Print Sponsor


RELATED INTERNET LINKS
The BBC is not responsible for the content of external internet sites



FEATURES, VIEWS, ANALYSIS
Has China's housing bubble burst?
How the world's oldest clove tree defied an empire
Why Royal Ballet principal Sergei Polunin quit

PRODUCTS & SERVICES

Americas Africa Europe Middle East South Asia Asia Pacific