Sales refresh SABMilller profits
http://news.bbc.co.uk/go/rss/-/1/hi/business/6131528.stm Version 0 of 1. Brewing giant SABMiller has seen its half-year profits rise 22%, thanks to strong global sales growth. The world's second-largest brewer made a pre-tax profit of $1.4bn (£734m) during the six months to 30 September, compared with $1.1bn a year earlier. SABMiller said half-year revenues increased 33% to $9.3bn, boosted by a 9% rise in the volume of products sold. It said emerging markets had helped offset lower sales in more established regions such as North America. The London-based firm's brands include Castle, Pilsner Urquell, Peroni and Miller Lite. Polish boost SABMiller said its North American unit had seen a 12% fall in profits, hit by price competition. Its US and Canadian business accounts for 14% of overall profits. While its half-year sales in North America were down, in Europe they were up 28%, while they advanced 14% in Asia, and added 10% in South Africa. SABMiller said earlier this year that it is now the largest overseas brewer in China. It is also seeing a surge in sales of its Polish beers in the UK, thanks to the influx of Polish workers into Britain. |