SABMiller H1 revenue down 12% to $9.99bn

13 Nov 2015

SABMiller's (SAB) revenue for the six months ended September 2015 dropped 12% to $9.99bn compared with the year-earlier period, the global brewer reported on Thursday.

SABMiller H1 revenue down 12% to $9.99bn

On Wednesday the boards of SABMiller and Anheuser-Busch InBev announced that they had reached agreement on the terms of a recommended acquisition of SABMiller by AB InBev, expected to be completed in the second half of 2016.

SABMiller said that profit before tax during the period under review was down 18% at $2.3bn from $2.8bn.

An interim dividend of 28.25 US cents per share was declared, up 9% on the previous year.

Group net producer revenue (NPR) growth amounted to 4%, beverage volumes were up 1% and group NPR per hectolitre (hl) grew 4%. Growth accelerated in the second quarter, with group NPR growth of 6% and beverage volume growth of 2%.

SABMiller said premium lager brands NPR grew 7%, driven by strong performance in many of its key markets, and supported by global lager brands NPR growth of 14%.

CEO Alan Clark said the group experienced a good first half, stripping out the effects of adverse exchange rates, with strong growth in Africa and Latin America and a better mix across all regions.

"On an organic, constant currency basis, group earnings and margins improved as a result of growing volumes and NPR per hectolitre, and continued cost savings."

At 9.25am SABMiller shares were down 1.17% to R868.72.

Source: BDpro

Source: I-Net Bridge

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