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Daily Digit: SABMiller boosted by Africa

Wednesday, November 20, 2013 - 00:51

Nov. 21 - SABMiller, the world's second-largest brewer reported a rise in profits for the first half of its financial year, as strength in Africa helped offset declining beer sales in Europe and North America. Hayley Platt reports.

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7 percent is today's daily digit - the rise in half-year earnings at SABMiller. The world's second-largest brewer made $3.27 billion dollars, slightly above expectations. It was largely thanks to strong demand in its home market of Africa. Sales there rose 9 percent. Asia Pacific and Latin America also had gains. That offset declines in Europe and North America where sales fell 4 percent and 3 percent respectively. The brewer said is wasn't surprised - trading in Europe has been particularly tough for a number of quarters. It's also been hurt by weaker currencies in emerging markets as it sells its product in local currencies but translates those sales into dollars when reporting earnings. The news pushed shares up slightly after a near 10 percent fall over the past six months.

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Daily Digit: SABMiller boosted by Africa

Wednesday, November 20, 2013 - 00:51