UK: SABMiller posts 24% rise in half-year profits
The company said that adjusted pre-tax profit was $491m, ahead of analysts' forecasts which had ranged between $417m and $470m. The six-month figures were boosted by a three-month contribution from Miller which the company acquired in July for $5.6 billion.
"Whilst Miller had a difficult three months to September 30, we are confident that it will live up to our long term expectations and will deliver synergies for the group in excess of the initial estimate of US$50m in year three," said the group's CEO, Graham Mackay
Group turnover at SABMiller rose from $2.18 billion to $3.98 billion, while turnover excluding Miller increased from $2.18 billion to $2.67 billion. SABMiller reported that group EBITA had risen from $365m to $553m, while EBITA excluding Miller had risen from $365m to $456m.
Having recorded a third consecutive year of volume, margin and earnings growth, global brewing force, SAB Miller, was in a position to give shareholders a 27% dividend increase and eye the acquisition...
Rumours that SABMiller is poised to launch a bid for Empresarial Bavaria swept the trading floor yesterday (2 June)....
The Indian subsidiary of SABMiller, MBL Investments (Mysore), has acquired the Shaw Wallace Group's 50% interest in the brewing operations of SABMiller's Indian joint-venture....
The German-owned investment house, Deutsche Bank, has upgraded shares in the UK-based international brewing group, SABMiller, from "hold" to "buy", and raised its target for the shares from 830p to 95...
The CEO of SABMiller has hailed the brewer's full-year figures as "very pleasing" today (19 May)....
SABMiller has seen its share rating upgraded....
Fresh rumours surrounding a possible bid for Scottish & Newcastle saw the brewer's share price rise sharply yesterday (18 May) morning....
SABMiller has agreed to acquire the Slovakian brewer Topvar. Topvar is located in the city of Topoľčany in Western Slovakia and sold 569,000 hectolitres of beer in 2004....
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