SABMiller higher after profit gain

|About: SABMiller plc ADR (SBMRY)|By:, SA News Editor

SABMiller (SBMRY) rode strength in developing markets to an improvement in net profit for the fiscal year which ended on March 31.

The global brewer reported profit of $3.38B vs. $3.25B a year ago.

Currency devaluations in emerging markets had a negative impact of $400M on earnings.

Full-year sales volume was up 2%, paced by a 5% gain in soft drink volume. Lager volume rose 1% during the period.

Shares of SABMiller were up 3.6% in London trading.