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SABMiller profit beats expectations, sees another tough year ahead

SABMiller reported full-year profit above analyst expectations as performance picked up in the latter half of the year, but said trading would continue to be tough in its new financial year.

The maker of Peroni, Grolsch and other beers reported operating earnings of $6.37 billion in the year that ended on March 31, above analysts' average estimates of $6.23 billion, according to a consensus by the company.

Net producer revenue was $26.29 billion, also ahead of analysts' estimates of $26.23 billion.

SABMILLER DENIAL
Bloomberg/Contributor | Bloomberg

SAB had already reported that worldwide beer volume was flat last year.

Looking ahead, the company said it anticipates that the trading environment will remain challenging and that its business will continue to be hit by currency volatility.

"However, we are confident in our strategy to drive superior long-term growth and we will continue to invest in production capacity and capability, particularly in growth markets," the company said.