SABMILLER PROFIT DROPS 16%

Finweek English Edition - - THE WEEK -

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.

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