SABMILLER PROFIT DROPS 16%
Beer brewer SABMiller was hurt by weakening emerging-market currencies in the year to end March, contributing to a 16% drop in full-year, pre-tax profits to $41.bn. Its operations in Asia-Pacific and Africa performed strongly, with organic ebitda (earnings before interest, taxation, depreciation and amortisation) growth of 13% and 11% respectively, ft.com reported. The brewer is in the process of being taken over by AB InBev in a $71bn deal. Neither company expected the deal to be approved before 12 August, when dividends of $1.5bn are payable, it said. An earlier approval would save AB InBev the dividend payment.