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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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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LONDON (AP) – SABMiller PLC, the world’s second-largest brewer, said Thursday that volumes of lager sales dropped 1 percent in the first half of its financial year due to weaker consumption in the U.S., Europe and Latin America.

SABMiller, whose international brands include Grolsch, Peroni and Miller Genuine Draft, said trading conditions were difficult across many of its markets in the six months to Sept. 30, but that revenue was supported by price increases taken in the previous year.

It added that financial performance for the half year was in line with expectations but it gave no figures on earnings.

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Date: 07/31/2009 11:30 AM

LONDON (AP) – SABMiller PLC, the world’s second-largest brewer, said Friday that it managed to withstand a sharp fall of 7 percent in second-quarter beer sales in Europe thanks to a strong performance in Africa and Asia.

U.S. sales to retailers eased 0.8 percent but were boosted by better sales of craft and import brews.

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Date: 07/10/2009 11:00 AM

CELEAN JACOBSON
Associated Press Writer

JOHANNESBURG (AP) – SABMiller PLC will open a new $125m brewery and soft drinks plant in the oil- and diamond-rich country of Angola, the company said Friday.

The new plant will be opened in the Angolan capital Luanda in October 2009, bringing to five the number of facilities the company has in the southern African country with a joint venture partner.

The company, one of world’s the largest brewers, said in a statement that the new plant was being opened to meet the country’s growing demand for beverages.

Mark Bowman, managing director for SABMiller Africa said the company was positive about the potential of the market in Angola, which has seen strong economic growth.

“Angola’s economy has held up well during the global economic crisis,” he said in the statement.

The company has invested about $250 million in upgrading of building new facilities across Angola in 18 months.

The brewery will employ 500 people from the surrounding area. The new soft drinks plant will see production beginning on three bottling lines, capable of producing 200,000hl per year, the statement said.

London-headquartered SABMiller PLC, which owns Grolsch and Peroni Nastro Azzurro lager brands, is listed on the London and Johannesburg stock exchanges.

Copyright 2009 The Associated Press.

Date: 05/14/2009 08:06 AM

JANE WARDELL
AP Business Writer

LONDON (AP) – SABMiller PLC, brewer of Grolsch and Peroni Nastro Azzurro lagers, posted a 7 percent fall in full-year net profit after the economic downturn escalated, adding on Thursday that there “remains little visibility” about the timing of a recovery in consumer demand.

The world’s No. 2 brewer said it would scale back costs and investment – but also underscored its plans to invest selectively by announcing it planned to acquire the outstanding 28.1 percent minority stake in its Polish subsidiary, Kompania Piwowarska S.A., from Kulczyk Holding S.A. in a deal worth $1.1 billion.

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Date: 04/16/2009 03:12 AM

LONDON (AP) – SABMiller PLC, the brewer of Grolsch, Miller Genuine Draft and Peroni Nastro Azzurro lagers, said Thursday that the volume of lager sales increased 2 percent in the year ending March 31 despite a drop in the final quarter as the global economy slowed.

Group revenue was up in the high single digits, and full year results are expected to be in line with guidance despite unfavorable currency fluctuations in the second half of the year, the company said in a trading update.

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