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Business News

SABMiller profit rise bucks trend


The brewer SABMiller has reported a 12 per cent rise in first-half profits, driven by a strong performance in Latin America.

The group, which spent $11.8bn (£7.4bn) taking over the Australian brewer Foster's last year, said that it had contributed significantly to the growth.

In the UK the group bucked the trend, with beer sales up 5 per cent against a national fall of 4.6 per cent in the six months to September.

Gary Haigh, UK managing director, said: "That was pretty good given the wettest summer on record, England's shortlived and unattractive performance in the Euros, and Boris's great job of keeping people out of the centre of London for the entire first week of the Olympics."

Sales of Peroni grew by mid-single digits, and Pilsner Urquell by double digits. The other big growth came from Kozel (the Goat), a Czech pilsner, which has proved popular.