SABMiller’s full-year earnings are likely to get a boost from strong third-quarter profits growth at the brewer’s joint venture with Molson Coors in the US, MillerCoors.
MillerCoors sold less beer in the US in the third quarter of 2010 as consumers continued to reign in their spending in uncertain economic times. But, cost savings helped the brewer to beat earnings expectations. Operating profits rose by 38% on the third quarter of 2009, to US$320.8m, and net profits increased by 36% to $313m, the firm said today (3 November).
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