SABMiller profits froth higher
Full year profits have risen more than expected at brewing giant SABMiller as the Miller Lite and Peroni firm battled a "substantial" rise in input costs.
Profit before tax for the 12 months to 31 March 2008 rose 16% to $3.26bn on revenue up 15% to $21.41bn, said the firm that bought Dutch brewer Grolsch in February for €816m.
But the group, which saw lager volumes rise 11%, warned that volume growth in the first half of the current year will be hit by high comparative growth rates, while pressure on input costs will continue to increase.
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However, it does expect pricing and mix benefits to compensate for cost increases.
"The economic outlook across our global footprint, which is biased towards growth markets in developing countries, remains positive, and we will continue to benefit from the strength of our brands, operational capability and investment for growth," it added.
The final dividend will be 42 cents per share.
