SABMiller pre-tax profits up 16%

Published: 30 November, 1999

SABMiller has seen pre-tax profits increase by 16% in the 12 months to the end of March 2008.

This was helped in part by strong sales of its premium Italian lager brand Peroni Nastro Azzuro in the UK market - up by 39% in the 12-month period.

Total pre-tax profits increased by 16% to $3.26 billion (1.76bn).

Graham Mackay, SABMiller chief executive, said achieving lager volume growth of 11% in a year of strong challenges was "very gratifying".

Mackay added: "[The results are] based on a strong performance in Europe where we've taken market share in most of our markets and where our full brand portfolios have once more demonstrated their worth.

"In Africa, growth has accelerated, in fact, there's been a strong recovery in Miller, strong profit growth based on pricing and cost recovery. Latin America continues to grow and its restructuring programme is advancing, well underway.

"Asia has demonstrated both volume and profit growth very creditably. So overall, I think a very strong performance for the Group."

Peroni is the fastest growing premium lager import in the UK, SABMiller added.

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