Brewer SABMiller cheers soaring profits

0 Comments | AFP, May, 2008

LONDON (AFP) — Britain-based brewer SABMiller said Thursday that annual net profits jumped 22.6 percent as the group benefited from its strong brands and broad global footprint across emerging markets.

SABMiller, which makes Coors Light, Miller Lite and Pilsner Urquell beers, said net profit climbed to 2.02 billion dollars (1.3 billion euros) in the 12 months to March.

"This has been another year of strong growth for the group," SABMiller said in a results statement.

"The economic outlook across our global footprint, which is biased towards growth markets in developing countries, remains positive and we will continue to benefit from the strength of our brands, operational capability and investment for growth."

Investors welcomed the results, sending...