Arab Today, arab today brewer sabmiller toasts rising annual profits
Last Updated : GMT 20:44:58
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.

arabstoday
arabstoday

GMT 16:08 2017 Saturday ,14 October

US stocks rise on strong retail sales; Europe mixed

GMT 04:42 2017 Saturday ,14 October

Egyptian Bourse gains EGP 2.6 bn

GMT 04:32 2017 Saturday ,14 October

US stocks rise on strong retail sales; Europe mixed

GMT 20:52 2017 Thursday ,12 October

Egyptian Bourse loses EGP 3 bn

GMT 13:12 2017 Thursday ,12 October

Bahrain Bourse daily performance

GMT 11:06 2017 Thursday ,12 October

Wall Street ends at fresh records; Spanish stocks gain

GMT 21:13 2017 Wednesday ,11 October

Bahrain Bourse daily trading report (update)
Arab Today, arab today
Arab Today, arab today

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

 



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 Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today EasyJet, Lufthansa among seven to bid

GMT 06:49 2017 Tuesday ,17 October

EasyJet, Lufthansa among seven to bid
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Israeli court convicts Palestinians of 2016

GMT 04:39 2017 Tuesday ,17 October

Israeli court convicts Palestinians of 2016
Arab Today, arab today Iran's Facebook shuts down

GMT 23:50 2017 Monday ,16 October

Iran's Facebook shuts down
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Sidem reveals plan to improve education

GMT 15:52 2017 Friday ,06 October

Sidem reveals plan to improve education
Arab Today, arab today British actress becomes fifth woman

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman
Arab Today, arab today Three killed, 360,000 without power

GMT 05:11 2017 Tuesday ,17 October

Three killed, 360,000 without power
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Mercedes says recalls 400,000 UK cars

GMT 06:56 2017 Tuesday ,17 October

Mercedes says recalls 400,000 UK cars
Arab Today, arab today Britain's Vauxhall to cut 400 jobs

GMT 10:53 2017 Sunday ,15 October

Britain's Vauxhall to cut 400 jobs
Arab Today, arab today Anoshka happy for reactions to her talk show

GMT 12:33 2017 Friday ,13 October

Anoshka happy for reactions to her talk show
Arab Today, arab today India to close colonial-era military farms

GMT 18:49 2017 Monday ,16 October

India to close colonial-era military farms

GMT 10:55 2017 Thursday ,12 October

Safaa Sultan happy for “Love School”

GMT 10:37 2017 Thursday ,12 October

Cara Delevingne accuses Weinstein

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 12:02 2017 Saturday ,14 October

Conservation cutbacks put Brazil's

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 12:25 2017 Saturday ,14 October

Squeeze on UK health gives advanced

GMT 07:02 2017 Sunday ,15 October

German minister sparks uproar

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 03:59 2017 Sunday ,15 October

US mobile carriers Sprint, T-Mobile to merge

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
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