SABMiller Plc also revealed its full-year earnings in the statement. As reported by the Wall Street Journal, Mr. Alan Clark, who is the current Chief Executive Officer of the company, said: “We have produced a resilient performance in the face of a number of headwinds”. Mr. Clark also added in the companys statement, which was cited by Bloomberg: “We are well placed to continue to deliver strong returns to shareholders.”
The company shared that its annual net profit for the year ended March 31st amounted to 3.38 billion dollars, which is up from 3.25 billion-dollar profit posted a year ago. The earnings of SABMiller before interest, tax and amortization increased by 1.2% and reached 6.45 billion dollars, surpassing analysts forecasts of 6.44 billion-dollar revenue.
According to the statement posted by SABMiller Plc, its upbeat annual results were driven by sales growth in the developing markets such as Africa and Latin America, while the European and North American markets performance was relatively weak.
Mr. Alan Clark shared that the company generated organic EBITA growth that amounted to 7%. In addition, SABMiller Plc had a stable margin improvement. Here is what the companys Chief Executive Officer said in the statement cited by StockMarketWire: “Group net producer revenue growth of 3% was led by our developing market businesses in Africa and Latin America, together with our associate in China, where we continued to build capacity, make selective price increases and grow our premium brand portfolios.”
Developing markets proved to be beneficial for the company, unlike the results posted by some of its rivals. For example, slower growth in developing regions such as China and Russia were posted by competitors like Remy Cointreau SA and Diageo Plc.
As reported by StockMarketWire, SABMiller Plc also commented its future plans, saying: “We will implement our new programme to deliver efficiencies to invest in this growth and improve our margins.” The company shared its belief that its growth will be benefited by capability, attention on current and new consumer offerings, as well as by making some investments in its production capacity.
SABMiller Plc was gaining 3.47% to trade at 3 372.5 pence per share by 10:33 GMT, marking a one-year change of -4.62%.
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