SABMiller full-year revenue hit by strong U.S. dollar

Cheers with beer at a bar with friends
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Brewer SABMiller posted an 8 percent fall in revenue even as beverage sales rose 2 percent by volume in fiscal year 2016, as foreign currencies struggled against a strong dollar.

The brewer of Miller Lite, Castle Lager and other beers said its revenue rose 5 percent in the year ended March 31, on a constant currency basis, as sales grew stronger in Africa and Latin America.

SABMiller's group net produce revenue came in at $24.2 billion for the year, down from the $26.3 billion it earned a year ago including the impact from currency exchange rates.