Arab Today, arab today brewer sabmiller toasts rising annual profits
Last Updated : GMT 15:46:02
Arab Today, arab today
Arab Today, arab today

Brewer SABMiller toasts rising annual profits

Arab Today, arab today

Arab Today, arab today Brewer SABMiller toasts rising annual profits

London - AFP

Britain-based brewer SABMiller on Thursday toasted rising annual profits, as emerging markets growth offset weakness in Europe, and launched a new cost-cutting drive. Investors cheered the upbeat news on the London stock market, sending SABMiller shares soaring to the top of the FTSE 100 index. Profit after tax rose four percent to $3.381 billion (2.474 billion euros) in the year to March 31 compared with the group's 2012/13 financial year, SABMiller said in a results statement. Pre-tax earnings gained three percent to $4.823 billion but revenues nudged four percent lower to $22.31 billion, added the maker of the Grolsch, Peroni and Miller Lite brands. Lager volumes rose 1.0 percent as growth in Latin America, Africa and Asia Pacific compensated for declines in Europe and North America. SABMiller added that it has begun a new efficiency programme that will deliver savings of about $500 million per year by March 2018. The group also hiked its shareholder dividend by 4.0 percent to 105 US cents per share. "Trading conditions are expected to remain broadly unchanged from the year just ended, with growth continuing to be driven by our developing markets," SABMiller said. The company, which is listed in London and Johannesburg, also produces Foster's and Pilsner Urquell lagers. "We have produced a resilient performance in the face of a number of headwinds," said chief executive Alan Clark. He added: "As we look ahead, we will continue to innovate and rejuvenate our products, build on our position in growth markets, and increase the efficiency of our operations. "With this approach I believe we are well placed to continue to deliver strong returns to shareholders." While for 2013/14, underlying pre-tax profits rose four percent at its Latin America business, they fell 10 percent for its European operations. The group added that earnings would continue to be hit by dollar exchange rates. SABMiller said that depreciation of currencies against the dollar impacted its underlying pre-tax profits by about $400 million in 2013/14. In late afternoon deals, the group's share price jumped 3.30 percent to 3,367 pence on the FTSE, which added 0.05 percent to 6,824.18 points.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today brewer sabmiller toasts rising annual profits Arab Today, arab today brewer sabmiller toasts rising annual profits

 



Arab Today, arab today
Arab Today, arab today Prepares to present her new collection

GMT 14:29 2017 Monday ,20 February

Prepares to present her new collection
Arab Today, arab today Tourism shows signs of recovery

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today 11 family members dead in rebel push

GMT 07:57 2017 Tuesday ,21 February

11 family members dead in rebel push
Arab Today, arab today To probe sexual harassment claims

GMT 10:08 2017 Tuesday ,21 February

To probe sexual harassment claims
View News in Arabic - Business: أسواق مالية
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Kidogo provides childcare for underserved

GMT 20:24 2017 Wednesday ,15 February

Kidogo provides childcare for underserved
Arab Today, arab today 63-Year-Old Woman Delivers Baby

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby
Arab Today, arab today London to tax old cars

GMT 14:06 2017 Friday ,17 February

London to tax old cars
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Ahmed Fahmy stresses he did not ignore singing

GMT 06:34 2017 Sunday ,19 February

Ahmed Fahmy stresses he did not ignore singing
Arab Today, arab today Teach monkeys to recognize themselves in mirror

GMT 20:41 2017 Wednesday ,15 February

Teach monkeys to recognize themselves in mirror

GMT 21:11 2017 Saturday ,18 February

Egypt to hold first session of Arab film festival

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed

GMT 19:10 2017 Friday ,17 February

Hats, scarves add beauty to women

GMT 10:26 2017 Tuesday ,14 February

Emergency UN meeting in Harare

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 14:51 2017 Monday ,20 February

Ways to acquire presentation skills

GMT 19:16 2017 Friday ,17 February

Aziz House ready to host the tourists

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 12:39 2017 Monday ,20 February

newest smartphone another winner for Huawei

GMT 13:16 2017 Tuesday ,14 February

First fashion model with Down syndrome
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday