SABMiller toasts 21-percent profits rise

0 Comments | AFP, November, 2007

LONDON (AFP) — Britain-based brewer SABMiller said Thursday that net profits climbed by a fifth in the first half of its fiscal year, but warned of "a more challenging environment" ahead.

SABMiller said that net profit increased by 21.3 percent to 958 million dollars (654 million euros) in the six months to September 30, compared with the same period 12 months earlier, an earnings statement said.

"We have delivered another excellent performance in Europe, a pleasing return to growth in North America, and our Asian businesses have continued their momentum and made market share gains," said SABMiller chief executive Graham Mackay.

Group revenue jumped 15 percent to 10.781 billion dollars in the first half.

"We are continuing to invest in our businesses...