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Thursday, November 19, 2009
SABMiller First-half Earnings Per Share Up 6%
By Barbara Kollmeyer
MarketWatch Pulse
MADRID -- U.K. brewer SABMiller on Thursday said it earned an adjusted 80 cents per share in the first half of the year, against 75 cents in the year-ago period, a gain of 6%. A survey of analyst polled by Thomson Reuters was forecasting 71 cents a share. Pretax profit fell 26% to $1.5 billion, against $2 billion. Revenue fell 6% in the first half of the year to $13.4 billion, against $14.2 billion, but fell 2% on a constant currency basis. SAB Miller cited the weak dollar as a reason for weakness in the period. Volumes fell 1% on an organic basis. The company expects the second half of the year will see benefits from favorable currency movements, but said tough current trading conditions will continue.
Copyright © 2009 MarketWatch, Inc.
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