UK & South Africa: SABMiller plc releases preliminary IFRS results

SABMiller plc announced May 18 its preliminary (unaudited) IFRS results for the year to 31 March 2006. The group highlighted a US $15.307 million revenue, which reflects a 19% year-to-year increment from US $12.901 million in 2005. The EBITA is situated at US $2.941 million (+23%). Profit before tax (including net exceptional credits of US $415 million in prior year) amounted US $2.453 million (+4%).

Group lager volumes are up 19% to 176 million hectolitres (hl), with an organic growth of 5%

“This was another year of good growth in volumes, margins and earnings reflecting the growth profile that the group has built over the years. Our track record reflects well-judged acquisitions and investments, successful integration and subsequent operational improvements,” chairman Meyer Kahn stated.

“It was also a year of strategic progress for the group as it completed the initial turnaround of Miller notwithstanding the challenging market conditions. The group has continued to improve its access to long term growth markets, establishing a major new platform in South America through the Bavaria transaction, whilst making further significant investments in China, India and Vietnam.

SABMiller now has a stronger global portfolio of businesses and brands. Looking forward a key focus will be on ensuring that we continue to nurture and build brands which are the first choice of consumers.”

E-malt.com, the global information source for the brewing and malting industry professionals. The bi-weekly E-malt.com Newsletters feature latest industry news, statistics in graphs and tables, world barley and malt prices, and other relevant information. Click here to get full access to E-malt.com. If you are a Castle Malting client, you can get free access to E-malt.com website and publications. Contact us for more information at marketing@castlemalting.com .