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Monday, May 19, 2008

SABMiller Profits Up 23 Percent

For all of the talk about higher prices for hops, grain, energy, shipping, packaging and other assorted inputs that go into making beer, you would expect brewers would be having some difficult days. That's not the case at SABMiller Plc, which announced its annual profit climbed 23 percent.

The world's third largest brewer says it was able to take price increases to recoup the commodity price hikes. Sales in select European markets and the U.S. are up, helping to offset declines in China and Colombia. Additionally, the company is benefiting from shifts in the world currency market.

SABMiller's net income climbed to $2.02 billion, and sales jumped 15 percent to $21.4 billion.

1 comment:

DrinkPlanner said...

Sounds like the oil industry.