SABMiller profits climb 31%
Brewing giant SABMiller toasted a 31% rise in annual profits today but said a potential price war in North America could restrain progress in the coming year.
The world’s third-largest brewer said conditions across the Atlantic had become tougher since Budweiser owner Anheuser-Busch imposed price increases in February.
At the same time, US consumers have less money to spend because of rising fuel costs while it also reported a resurgence in demand for wine and spirits there at the expense of beer.
SABMiller said pre-tax profits before exceptional items rose to $2.42bn (€3.51bn) in the year to March 31 from $1.71bn (2.48bn).
Listed on both the London and Johannesburg stock exchanges, SABMiller has 42,000 employees.
Outside the United States, the company is one of the largest bottlers of Coca-Cola products in the world.
