Seeking Alpha

SABMiller net profit +8.5% but warns of forex headwind

  • SABMiller's (SBMRF) H1 net profit climbed 8.5% to $1.71B.
  • Net producer revenue, which includes sales from joint ventures, increased to $13.79B from $13.67B, in line with market expectations.
  • EBITA +4% to $3.27B.
  • Organic EBITA +7% vs consensus of +6%.
  • Gains in Africa, Latin America and Asia-Pacific helped to outweigh volume declines in Europe and North America.
  • SABMiller warned that a strengthening dollar will hurt FY results.
  • Shares +0.8% in London. (PR)
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