Profits Brewing for SABMiller
While beer drinking in Europe and North America has taken a downturn, it’s on the upswing in emerging markets like Africa and Latin America.
And that’s helped brewing company, SAB Miller (PINK: SBMRY), beat estimates for its annual earnings.
SABMiller, the world’s second-largest brewer, reported a 12% rise in earnings, with 70% of its profit coming from emerging markets.
From its South African roots, SAB has expanded rapidly over the past 20 years.
Revenue is now at $31.4 billion, and last year’s profit was $5.6 billion – a 55% jump from the previous year.
The company has scored big with brands like Dutch Grolsch and Italian Peroni, which beat forecasts with a 12% rise in full-year earnings. And Foster’s – which SAB bought in December – now has almost half the share of the Australian market.