LONDON (AP) – SABMiller PLC, the world’s second-largest brewer, on Thursday reported a 32 percent drop in net profit as revenues were hit hard by unfavorable currency movements and lager volumes declined.

For the six months ending Sept. 30, the brewer of Grolsch, Pilsner Urquell and Peroni Nastro Azzurro lagers said net profit was $973 million, compared with $1.42 billion a year earlier.

Comparisons were skewed by exceptional gains of $404 million last year as the company booked a profit from its role in establishing joint venture MillerCoors, while in the current period the company reported exceptional charges of $211 million.

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COPENHAGEN (AP) – Danish brewer Carlsberg A/S posted Wednesday a 25 percent hike in third-quarter profit, citing successful cost-cutting strategies and strong returns in Eastern European and Asian markets.

The beer producer said net profit rose to 1.5 billion kroner ($297 million) in the July through September period from 1.2 billion kroner in 2008.

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DENVER (AP) – MillerCoors, a U.S. joint venture between Molson Coors Brewing Co. and SABMiller PLC, said Wednesday that its third-quarter profit climbed on cost-control efforts as well as the strength of beer brands like MGD 64.

The maker of Blue Moon and Miller Genuine Draft said its earnings rose 37 percent to $229.7 million compared with a pro-forma profit of $168.2 million a year ago.

Excluding pension related charges and other items, profit increased to $244.4 million from $190.8 million.

Revenue grew 3 percent to $2.01 billion from $1.95 billion, partly on MGD 64’s strength, while sales of mainstay Miller Lite continued to soften.

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BC-EU–Britain-Earns-Diageo,2nd Ld-Writethru

Date: 08/27/2009 06:06 AM

JANE WARDELL
AP Business Writer

LONDON (AP) – Diageo PLC, the world’s biggest spirits maker, posted a 7 percent rise in full-year net profit on Thursday, benefiting from favorable currency exchange rates and cost-cutting amid weaker demand for many of its key products.

The maker of Johnnie Walker whisky, Smirnoff vodka and Guinness stout cut its profit target for the current year because of concerns about the strength of an economic recovery – but also stressed that it believed the worst was over.

Net profit for the 12 months to June 30 was 1.62 billion pounds ($2.62 billion), up from 1.52 billion pounds a year ago.

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Date: 08/24/2009 11:00 PM

MELBOURNE, Australia (AP) – Australian brewer and winemaker Foster’s Group Ltd. reported Tuesday that its net profit rose 4 percent in the last fiscal year to 741.5 million Australian dollars ($619.2 million).

The Melbourne-based company said in a statement that the market for its struggling wine business would also be tough in 2010, but that the Australian beer market was robust.

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Date: 08/03/2009 09:09 AM

DENVER (AP) – Brewer Molson Coors said Monday its second-quarter profit doubled as it raised prices and cut costs, despite selling less beer.

Meanwhile, profit at Molson’s joint venture with SABMiller’s U.S. unit – called MillerCoors LLC – rose 75 percent to $304.9 million.

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Date: 05/06/2009 04:41 AM

JAN M. OLSEN
Associated Press Writer

COPENHAGEN, Denmark (AP) – Carlsberg A/S on Wednesday said its losses widened in the first quarter as the Danish brewer took a hit from higher financing costs related to its joint acquisition with Heineken of Scottish & Newcastle.

Carlsberg, whose beer brands include Tuborg, Baltika and Kronenbourg, posted a net loss of 212 million kroner ($38 million) compared with a loss of 129 million kroner in the first quarter of 2008.

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Date: 05/05/2009 09:10 AM

DENVER (AP) – Brewer Molson Coors says its first-quarter profit more than doubled, though sales of its beers fell in its stronghold of Britain and stagnated in Canada.

The Denver-based maker of Coors Light says it earned $75.7 million, or 41 cents a share, in the three months that ended March 29. That compares to earnings of $34.3 million or 19 cents a share, in the same period last year – before Molson Coors and SABMiller PLC formed their joint venture MillerCoors.

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